New York State Common Retirement Fund lowered its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,967 shares of the company’s stock after selling 900 shares during the period. New York State Common Retirement Fund owned 0.20% of Mercadolibre worth $56,031,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in MELI. BlackRock Inc. increased its holdings in shares of Mercadolibre by 1.0% during the 2nd quarter. BlackRock Inc. now owns 1,491,572 shares of the company’s stock worth $912,500,000 after acquiring an additional 14,951 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Mercadolibre by 28.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,799 shares of the company’s stock worth $248,107,000 after acquiring an additional 95,183 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Mercadolibre by 11.0% during the 3rd quarter. WCM Investment Management LLC now owns 338,181 shares of the company’s stock worth $186,416,000 after acquiring an additional 33,427 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Mercadolibre by 95.7% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 193,870 shares of the company’s stock worth $106,867,000 after acquiring an additional 94,806 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its holdings in shares of Mercadolibre by 8.2% during the 4th quarter. Sustainable Growth Advisers LP now owns 128,940 shares of the company’s stock worth $73,746,000 after acquiring an additional 9,772 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.
Shares of NASDAQ MELI opened at $699.82 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.72. The stock’s fifty day moving average price is $646.79 and its two-hundred day moving average price is $590.57. Mercadolibre Inc has a one year low of $356.00 and a one year high of $725.19. The firm has a market cap of $32.72 billion, a price-to-earnings ratio of -192.79 and a beta of 1.57.
A number of research analysts recently weighed in on MELI shares. UBS Group decreased their target price on Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Piper Sandler boosted their target price on Mercadolibre from $675.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Susquehanna Bancshares raised Mercadolibre from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $500.00 to $820.00 in a report on Wednesday, February 5th. Barclays reissued a “buy” rating and set a $720.00 target price on shares of Mercadolibre in a report on Sunday, January 26th. Finally, ValuEngine lowered Mercadolibre from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $694.10.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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