Illinois Municipal Retirement Fund Sells 2,182 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Illinois Municipal Retirement Fund trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 56.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,717 shares of the company’s stock after selling 2,182 shares during the period. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $2,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Avalon Capital Management purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $218,000. Synergy Financial Group LTD raised its stake in MercadoLibre by 4.9% in the fourth quarter. Synergy Financial Group LTD now owns 1,619 shares of the company’s stock valued at $2,753,000 after buying an additional 76 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in MercadoLibre by 13.6% in the fourth quarter. Impax Asset Management Group plc now owns 2,027 shares of the company’s stock worth $3,447,000 after acquiring an additional 243 shares in the last quarter. IFP Advisors Inc grew its stake in shares of MercadoLibre by 9.7% during the fourth quarter. IFP Advisors Inc now owns 349 shares of the company’s stock worth $593,000 after acquiring an additional 31 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in shares of MercadoLibre by 1.1% during the fourth quarter. Waverton Investment Management Ltd now owns 21,358 shares of the company’s stock valued at $36,334,000 after acquiring an additional 222 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 3.1 %

MercadoLibre stock opened at $2,129.80 on Friday. The firm has a market cap of $107.97 billion, a PE ratio of 56.49, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock’s 50 day simple moving average is $1,901.92 and its two-hundred day simple moving average is $1,965.30. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of a number of recent analyst reports. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $2,385.94.

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.