Verdence Capital Advisors LLC Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Verdence Capital Advisors LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 357 shares of the company’s stock after selling 17 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MercadoLibre were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WCM Investment Management LLC increased its stake in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares during the last quarter. Morgan Stanley grew its position in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after buying an additional 236,744 shares during the last quarter. International Assets Investment Management LLC raised its stake in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in MercadoLibre by 108.1% in the third quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock valued at $248,475,000 after acquiring an additional 101,757 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC boosted its stake in MercadoLibre by 70.9% in the third quarter. Hardman Johnston Global Advisors LLC now owns 203,083 shares of the company’s stock valued at $257,485,000 after acquiring an additional 84,239 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Barclays cut their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Susquehanna boosted their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Finally, UBS Group lowered their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,813.85.

MercadoLibre Trading Up 0.9 %

NASDAQ MELI opened at $1,368.23 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $69.37 billion, a P/E ratio of 70.02, a P/E/G ratio of 0.87 and a beta of 1.44. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a 50-day moving average price of $1,552.54 and a 200 day moving average price of $1,528.67.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.25 EPS. Equities research analysts expect that MercadoLibre, Inc. will post 35.77 EPS for the current year.

MercadoLibre Profile

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.