Illinois Municipal Retirement Fund Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Illinois Municipal Retirement Fund lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 56.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,717 shares of the company’s stock after selling 2,182 shares during the period. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $2,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Human Investing LLC purchased a new position in MercadoLibre during the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MELI shares. BTIG Research decreased their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Bank of America raised their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Finally, Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $2,385.94.

MercadoLibre Stock Down 3.1 %

Shares of NASDAQ MELI opened at $2,129.80 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The stock has a market cap of $107.97 billion, a P/E ratio of 56.49, a PEG ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business’s fifty day simple moving average is $1,901.92 and its 200-day simple moving average is $1,965.30.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.