MercadoLibre, Inc. $MELI Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 25.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,028 shares of the company’s stock after acquiring an additional 1,237 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $15,755,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Optimize Financial Inc increased its holdings in shares of MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the period. Range Financial Group LLC increased its position in MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in MercadoLibre by 26.3% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after acquiring an additional 5 shares during the last quarter. Forum Financial Management LP boosted its position in MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after purchasing an additional 6 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of MercadoLibre by 37.5% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI opened at $2,108.60 on Monday. The company’s 50-day simple moving average is $2,290.36 and its two-hundred day simple moving average is $2,379.17. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market capitalization of $106.90 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly 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 return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the firm posted $7.83 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. Susquehanna cut their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Wedbush increased their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Finally, Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

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.