State of New Jersey Common Pension Fund D Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

State of New Jersey Common Pension Fund D lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,604 shares of the company’s stock after selling 7,725 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MercadoLibre were worth $71,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Meritage Portfolio Management acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $201,000. Pittenger & Anderson Inc. raised its position in shares of MercadoLibre by 34.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,146 shares of the company’s stock valued at $3,373,000 after buying an additional 545 shares during the last quarter. Lyell Wealth Management LP acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $314,000. Disciplined Equity Management Inc. acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $42,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of MercadoLibre by 3.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,105 shares of the company’s stock valued at $1,737,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MELI. UBS Group dropped their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Stock Performance

Shares of MELI stock traded up $42.17 during trading hours on Friday, reaching $1,406.00. The stock had a trading volume of 443,255 shares, compared to its average volume of 384,968. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The firm has a 50-day simple moving average of $1,530.62 and a 200-day simple moving average of $1,527.51. The firm has a market capitalization of $71.28 billion, a PE ratio of 69.80, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 EPS. As a group, equities analysts forecast that MercadoLibre, Inc. will post 34.46 earnings per share 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.