Verdence Capital Advisors LLC Buys 132 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Verdence Capital Advisors LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704 shares of the company's stock after buying an additional 132 shares during the quarter. Verdence Capital Advisors LLC's holdings in MercadoLibre were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors raised its position in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors lifted its stake in shares of MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the period. Norges Bank purchased a new stake in MercadoLibre in the 4th quarter worth $383,051,000. Finally, Capital Research Global Investors lifted its stake in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after buying an additional 179,807 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,351.14 on Friday. The stock's 50-day moving average is $2,493.54 and its 200-day moving average is $2,176.24. The company has a market cap of $119.20 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the business posted $6.78 EPS. The business's quarterly revenue was up 37.0% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Barclays raised their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.

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