State of New Jersey Common Pension Fund D Buys 163 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

State of New Jersey Common Pension Fund D raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,383 shares of the company’s stock after purchasing an additional 163 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of MercadoLibre worth $64,397,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MELI. Meritage Portfolio Management bought a new position in shares of MercadoLibre during the third quarter valued at approximately $248,000. Tyler Stone Wealth Management increased its position in shares of MercadoLibre by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 100 shares of the company’s stock valued at $205,000 after buying an additional 50 shares during the period. Baker Avenue Asset Management LP purchased a new position in shares of MercadoLibre during the 3rd quarter worth approximately $279,000. Legacy Capital Wealth Partners LLC purchased a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $283,000. Finally, Ted Buchan & Co boosted its position in shares of MercadoLibre by 142.9% during the third quarter. Ted Buchan & Co now owns 549 shares of the company’s stock valued at $1,127,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock traded up $97.96 on Friday, hitting $1,872.01. The company had a trading volume of 1,357,175 shares, compared to its average volume of 267,932. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $94.91 billion, a price-to-earnings ratio of 66.06, a P/E/G ratio of 1.30 and a beta of 1.61. The stock’s 50-day simple moving average is $2,046.45 and its 200 day simple moving average is $1,825.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. As a group, equities research analysts expect that MercadoLibre, Inc. will post 37.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MELI shares. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Finally, Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,309.67.

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.