Public Sector Pension Investment Board Has $18.69 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Public Sector Pension Investment Board lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,107 shares of the company’s stock after selling 1,968 shares during the quarter. Public Sector Pension Investment Board’s holdings in MercadoLibre were worth $18,687,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Planning Capital Management Corp grew its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP lifted its position in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after buying an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC lifted its position in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after buying an additional 6 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,044.76 on Friday. The stock has a market capitalization of $103.67 billion, a PE ratio of 72.15, a P/E/G ratio of 1.39 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business has a fifty day moving average price of $2,023.33 and a two-hundred day moving average price of $1,865.50. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MELI. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Raymond James began coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

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.