NewEdge Advisors LLC Lowers Position in MercadoLibre, Inc. $MELI

NewEdge Advisors LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,675 shares of the company’s stock after selling 1,106 shares during the quarter. NewEdge Advisors LLC’s holdings in MercadoLibre were worth $6,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after acquiring an additional 5 shares during the last quarter. Interchange Capital Partners LLC boosted its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC increased its holdings in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. increased its holdings in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares during the last quarter. Finally, Strategic Advisors LLC raised its position in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,885.73 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a market cap of $95.61 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company’s 50 day moving average is $1,724.37 and its two-hundred day moving average is $1,804.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm earned $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Citigroup boosted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Scotiabank decreased their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

MercadoLibre Company Profile

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.