New York State Common Retirement Fund Acquires 910 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

New York State Common Retirement Fund grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,374 shares of the company’s stock after acquiring an additional 910 shares during the period. New York State Common Retirement Fund’s holdings in MercadoLibre were worth $58,222,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. O Dell Group LLC lifted its stake in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC lifted its stake in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.9 %

Shares of MELI stock opened at $2,054.90 on Friday. MercadoLibre, Inc. has a 52-week low of $1,310.31 and a 52-week high of $2,161.73. The stock has a market cap of $104.18 billion, a price-to-earnings ratio of 74.26, a P/E/G ratio of 1.23 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a fifty day moving average of $2,050.38 and a 200-day moving average of $1,801.53.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup upped their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.