New York Life Investment Management LLC Has $1.40 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

New York Life Investment Management LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 825 shares of the company’s stock after selling 32 shares during the period. New York Life Investment Management LLC’s holdings in MercadoLibre were worth $1,403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nwam LLC grew its stake in MercadoLibre by 18.2% in the 4th quarter. Nwam LLC now owns 1,880 shares of the company’s stock valued at $3,197,000 after buying an additional 290 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $221,000. Impact Investors Inc bought a new stake in MercadoLibre in the 4th quarter valued at about $232,000. ARK Investment Management LLC boosted its holdings in MercadoLibre by 27.8% in the 4th quarter. ARK Investment Management LLC now owns 31,171 shares of the company’s stock valued at $53,004,000 after purchasing an additional 6,773 shares during the period. Finally, Avalon Capital Management bought a new stake in MercadoLibre in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,070.41 on Tuesday. The company has a market cap of $104.96 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $1,916.76 and a 200 day simple moving average of $1,968.19. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two equities research 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $2,402.81.

About MercadoLibre

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.