State of New Jersey Common Pension Fund D Has $58.53 Million Stock Position in MercadoLibre, Inc. $MELI

Key Points

• State of New Jersey Common Pension Fund D trimmed its MercadoLibre stake by 6.3% in Q4, selling 1,958 shares and now owns 29,057 shares worth about $58.53 million (roughly 0.06% of the company).
• MercadoLibre reported $11.03 EPS on $8.76B revenue last quarter with a 33.73% ROE and 6.91% net margin; the stock trades near $1,797 with a market cap of $91.1B, a P/E of 45.55 and a PEG of 0.89.
• Analyst sentiment is mixed but leans positive—MarketBeat shows a consensus "Moderate Buy" and an average target of $2,685.33, despite several recent downgrades and lowered price targets from some firms.

State of New Jersey Common Pension Fund D cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,057 shares of the company's stock after selling 1,958 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of MercadoLibre worth $58,528,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bison Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $206,000. Empowered Funds LLC grew its position in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth increased its stake in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company's stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL lifted its position in shares of MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock worth $444,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,796.87 on Thursday. The business's 50 day simple moving average is $1,764.98 and its 200 day simple moving average is $1,975.45. MercadoLibre, Inc. has a 12 month low of $1,593.21 and a 12 month high of $2,645.22. The company has a market cap of $91.10 billion, a price-to-earnings ratio of 45.55, a PEG ratio of 0.89 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. The company had revenue of $8.76 billion for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. Sell-side analysts forecast that MercadoLibre, Inc. will post 50.05 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MELI shares. Weiss Ratings lowered MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 8th. Morgan Stanley cut their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an "overweight" rating on the stock in a research report on Monday, March 9th. Zacks Research downgraded MercadoLibre from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 22nd. Barclays decreased their target price on MercadoLibre from $2,600.00 to $2,500.00 and set an "overweight" rating for the company in a research report on Monday, April 20th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a "hold" rating to a "buy" rating and cut their price target for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,685.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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