NewEdge Advisors LLC Sells 943 Shares of MercadoLibre, Inc. $MELI

NewEdge Advisors LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,838 shares of the company’s stock after selling 943 shares during the period. NewEdge Advisors LLC’s holdings in MercadoLibre were worth $6,636,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its holdings in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the period. Capital Research Global Investors lifted its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors increased its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after acquiring an additional 10,142 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.2%

Shares of MercadoLibre stock opened at $1,824.34 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a market cap of $92.49 billion, a P/E ratio of 49.61, a PEG ratio of 1.13 and a beta of 1.34. The company’s fifty day simple moving average is $1,749.73 and its two-hundred day simple moving average is $1,793.59.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted $10.31 EPS. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. Research analysts anticipate that MercadoLibre, Inc. will post 40.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Citigroup increased their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.