Public Employees Retirement Association of Colorado Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Public Employees Retirement Association of Colorado lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 0.1% during the 2nd quarter, Holdings Channel reports. The firm owned 50,611 shares of the company’s stock after selling 34 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in MercadoLibre were worth $32,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Prospera Financial Services Inc purchased a new position in shares of MercadoLibre in the first quarter valued at $31,000. Mutual Advisors LLC grew its stake in shares of MercadoLibre by 71.0% in the 1st quarter. Mutual Advisors LLC now owns 571 shares of the company’s stock worth $679,000 after buying an additional 237 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of MercadoLibre by 62.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 235 shares of the company’s stock worth $280,000 after buying an additional 90 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of MercadoLibre by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 4,148 shares of the company’s stock valued at $4,934,000 after buying an additional 125 shares in the last quarter. Finally, Commerce Bank lifted its holdings in shares of MercadoLibre by 47.0% in the 1st quarter. Commerce Bank now owns 663 shares of the company’s stock valued at $789,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 89.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MELI. Jefferies Financial Group reduced their price objective on MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a research note on Thursday, October 6th. Credit Suisse Group lowered their target price on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a report on Monday, October 31st. StockNews.com began coverage on shares of MercadoLibre in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $1,150.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $1,317.00.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $884.24 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.31 and a current ratio of 1.34. The firm has a market cap of $44.47 billion, a PE ratio of 164.66 and a beta of 1.53. The firm’s 50 day simple moving average is $897.28 and its 200-day simple moving average is $843.63. MercadoLibre, Inc. has a one year low of $600.68 and a one year high of $1,365.97.

MercadoLibre (NASDAQ:MELI – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.25. MercadoLibre had a return on equity of 17.11% and a net margin of 2.80%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company posted $1.92 EPS. MercadoLibre’s revenue was up 41.6% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 8.2 EPS for the current year.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.