New York Life Investment Management LLC Sells 32 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

New York Life Investment Management LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 825 shares of the company’s stock after selling 32 shares during the quarter. New York Life Investment Management LLC’s holdings in MercadoLibre were worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Strategic Financial Concepts LLC boosted its position in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after purchasing an additional 181,849 shares in the last quarter. FMR LLC boosted its position in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Swedbank AB boosted its position in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Wedbush cut their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. 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 research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Down 2.4 %

MercadoLibre stock opened at $2,070.41 on Tuesday. The firm has a market capitalization of $104.96 billion, a PE ratio of 54.92, a P/E/G ratio of 1.12 and a beta of 1.62. The company’s 50-day moving average is $1,916.76 and its 200-day moving average is $1,968.19. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.