MercadoLibre, Inc. $MELI Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 24,565 shares of the company’s stock after selling 951 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MercadoLibre were worth $64,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Optimize Financial Inc grew its stake in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after buying an additional 4 shares during the last quarter. Range Financial Group LLC boosted its holdings in shares of MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after acquiring an additional 6 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of MercadoLibre by 37.5% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock worth $43,000 after acquiring an additional 6 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MELI shares. Benchmark reduced their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Barclays raised their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Trading Up 0.9%

Shares of MercadoLibre stock opened at $2,048.89 on Friday. The business has a fifty day simple moving average of $2,256.65 and a 200-day simple moving average of $2,372.07. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm has a market cap of $103.87 billion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

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

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.