MercadoLibre, Inc. $MELI Stock Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,176 shares of the company’s stock after selling 504 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $3,761,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC increased its holdings in shares of MercadoLibre by 392.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,113 shares of the company’s stock worth $1,924,000 after buying an additional 887 shares in the last quarter. Lido Advisors LLC lifted its stake in shares of MercadoLibre by 6.9% in the 3rd quarter. Lido Advisors LLC now owns 2,646 shares of the company’s stock valued at $4,575,000 after acquiring an additional 171 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of MercadoLibre by 57.1% in the 3rd quarter. Csenge Advisory Group now owns 209 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of MercadoLibre by 1.2% in the 3rd quarter. Gryphon Financial Partners LLC now owns 994 shares of the company’s stock valued at $1,718,000 after acquiring an additional 12 shares during the last quarter. Finally, AlphaCore Capital LLC boosted its holdings in shares of MercadoLibre by 39.6% during the 3rd quarter. AlphaCore Capital LLC now owns 328 shares of the company’s stock valued at $567,000 after acquiring an additional 93 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MELI shares. New Street Research initiated coverage on MercadoLibre in a report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of MercadoLibre in a report on Thursday, November 5th. UBS Group dropped their target price on MercadoLibre from $1,750.00 to $1,600.00 and set a “neutral” rating for the company in a research report on Wednesday. BTIG Research dropped their target price on MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Finally, Cantor Fitzgerald cut their price target on MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,170.62.

MercadoLibre Trading Up 1.1%

NASDAQ MELI traded up $16.40 on Friday, hitting $1,491.49. The company’s stock had a trading volume of 586,085 shares, compared to its average volume of 721,041. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 0.77. MercadoLibre, Inc. has a 1-year low of $1,463.20 and a 1-year high of $2,342.00. The company’s 50-day moving average is $1,760.76 and its 200 day moving average is $1,787.78. The firm has a market cap of $75.62 billion, a PE ratio of 40.01, a PEG ratio of 1.06 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.27 by ($0.44). The business had revenue of $10.75 billion for the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. MercadoLibre’s revenue was up 45.1% on a year-over-year basis. During the same period in the previous year, the business posted $8.32 EPS. As a group, analysts predict that MercadoLibre, Inc. will post 37.44 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.