New York State Common Retirement Fund Lowers Stock Holdings in MercadoLibre, Inc. $MELI

New York State Common Retirement Fund cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,392 shares of the company’s stock after selling 1,692 shares during the quarter. New York State Common Retirement Fund owned 0.05% of MercadoLibre worth $68,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MELI. Brooklyn Investment Group grew its position in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the first quarter worth about $29,000. Saudi Central Bank purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $35,000. McIlrath & Eck LLC boosted its stake in shares of MercadoLibre by 375.0% in the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the period. Finally, Highline Wealth Partners LLC grew its holdings in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,082.00 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $2,184.85 and a 200-day simple moving average of $2,349.84. The stock has a market cap of $105.55 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the company earned $7.83 EPS. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Wedbush boosted their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Susquehanna cut their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Barclays increased their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.