MercadoLibre, Inc. $MELI Holdings Trimmed by Arizona State Retirement System

Arizona State Retirement System trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,886 shares of the company’s stock after selling 438 shares during the period. Arizona State Retirement System’s holdings in MercadoLibre were worth $25,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. grew its position in MercadoLibre by 1.2% during the fourth quarter. Atwood & Palmer Inc. now owns 17,244 shares of the company’s stock valued at $34,734,000 after purchasing an additional 210 shares in the last quarter. Schmidt P J Investment Management Inc. grew its position in MercadoLibre by 3.4% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 215 shares of the company’s stock valued at $433,000 after purchasing an additional 7 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in MercadoLibre by 25.9% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 19,477 shares of the company’s stock valued at $39,268,000 after purchasing an additional 4,005 shares in the last quarter. Teacher Retirement System of Texas grew its position in MercadoLibre by 27.1% during the fourth quarter. Teacher Retirement System of Texas now owns 42,611 shares of the company’s stock valued at $85,830,000 after purchasing an additional 9,098 shares in the last quarter. Finally, United Asset Strategies Inc. grew its position in MercadoLibre by 6.0% during the fourth quarter. United Asset Strategies Inc. now owns 474 shares of the company’s stock valued at $955,000 after purchasing an additional 27 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI opened at $1,809.20 on Friday. The company has a market cap of $91.73 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49. The stock has a 50-day moving average of $1,779.53 and a 200-day moving average of $1,987.40. MercadoLibre, Inc. has a 52-week low of $1,593.21 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 50.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on MELI shares. Wedbush lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their price target on MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley lowered their price target on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Finally, Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,685.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.