New York Life Investment Management LLC Has $1.92 Million Stock Holdings in MercadoLibre, Inc. $MELI

New York Life Investment Management LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 736 shares of the company’s stock after selling 21 shares during the quarter. New York Life Investment Management LLC’s holdings in MercadoLibre were worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Invesco Ltd. boosted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC boosted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Nuveen LLC bought a new stake in MercadoLibre in the first quarter worth $143,367,000. Finally, Goldman Sachs Group Inc. boosted its holdings in MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after purchasing an additional 70,834 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 1.3%

MELI stock opened at $2,328.90 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a 50-day moving average of $2,310.58 and a two-hundred day moving average of $2,370.75. The stock has a market capitalization of $118.08 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business posted $7.83 EPS. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush upped their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup decreased their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,796.47.

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.