New York Life Investment Management LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

New York Life Investment Management LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 798 shares of the company’s stock after purchasing an additional 87 shares during the quarter. New York Life Investment Management LLC’s holdings in MercadoLibre were worth $1,254,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in MercadoLibre by 9.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,834 shares of the company’s stock valued at $4,861,000 after acquiring an additional 335 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of MercadoLibre by 12.3% in the third quarter. Stratos Wealth Partners LTD. now owns 438 shares of the company’s stock valued at $555,000 after purchasing an additional 48 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of MercadoLibre by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 374 shares of the company’s stock worth $474,000 after purchasing an additional 17 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of MercadoLibre by 209.2% during the 3rd quarter. Mackenzie Financial Corp now owns 1,175 shares of the company’s stock worth $1,443,000 after purchasing an additional 795 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in MercadoLibre by 27.6% in the 3rd quarter. Brighton Jones LLC now owns 231 shares of the company’s stock valued at $293,000 after buying an additional 50 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup reduced their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday, May 3rd. UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,805.00.

MercadoLibre Trading Up 2.1 %

MELI opened at $1,688.69 on Wednesday. The stock has a market capitalization of $85.61 billion, a PE ratio of 75.56, a P/E/G ratio of 1.09 and a beta of 1.45. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The business’s 50 day moving average price is $1,501.79 and its 200 day moving average price is $1,549.14.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.97 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current 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.