Verdence Capital Advisors LLC Buys 21 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Posted by Defense World Staff on Apr 2nd, 2023

Verdence Capital Advisors LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353 shares of the company’s stock after acquiring an additional 21 shares during the period. Verdence Capital Advisors LLC’s holdings in MercadoLibre were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MELI. Baillie Gifford & Co. boosted its stake in shares of MercadoLibre by 6.6% during the third quarter. Baillie Gifford & Co. now owns 5,783,235 shares of the company’s stock valued at $4,787,246,000 after purchasing an additional 357,308 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 9.6% during the third quarter. Jennison Associates LLC now owns 2,195,714 shares of the company’s stock valued at $1,817,568,000 after purchasing an additional 192,608 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of MercadoLibre by 0.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 368,525 shares of the company’s stock valued at $305,058,000 after purchasing an additional 1,482 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. boosted its stake in shares of MercadoLibre by 57.5% during the second quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 307,242 shares of the company’s stock valued at $195,673,000 after purchasing an additional 112,170 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of MercadoLibre by 13.5% during the third quarter. Van ECK Associates Corp now owns 271,631 shares of the company’s stock valued at $224,851,000 after purchasing an additional 32,266 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 4.0 %

NASDAQ MELI opened at $1,318.06 on Friday. The company has a fifty day simple moving average of $1,181.35 and a two-hundred day simple moving average of $998.93. The stock has a market cap of $66.24 billion, a P/E ratio of 138.16, a P/E/G ratio of 1.91 and a beta of 1.59. MercadoLibre, Inc. has a 12-month low of $600.68 and a 12-month high of $1,325.67. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 1.44.

MercadoLibre (NASDAQ:MELI – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $1.14. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.96 billion. MercadoLibre had a net margin of 4.57% and a return on equity of 29.09%. The business’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.92) earnings per share. On average, analysts forecast that MercadoLibre, Inc. will post 14.97 earnings per share for the current year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 150 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $1,256.00, for a total value of $188,400.00. Following the completion of the transaction, the director now owns 115 shares of the company’s stock, valued at $144,440. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of MercadoLibre from $1,100.00 to $1,460.00 in a research note on Friday, March 3rd. StockNews.com assumed coverage on shares of MercadoLibre in a research report on Thursday, March 16th. They set a “hold” rating for the company. TheStreet raised shares of MercadoLibre from a “c” rating to a “b-” rating in a research report on Wednesday, February 15th. Barclays increased their target price on shares of MercadoLibre from $1,250.00 to $1,475.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Finally, BTIG Research increased their target price on shares of MercadoLibre from $1,245.00 to $1,400.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,356.67.

MercadoLibre Company Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.

Verdence Capital Advisors LLC Buys 21 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

MercadoLibre Trading Up 4.0 %

Insiders Place Their Bets

Wall Street Analysts Forecast Growth

MercadoLibre Company Profile

Further Reading

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