NewEdge Advisors LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

NewEdge Advisors LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,772 shares of the company's stock after purchasing an additional 1,641 shares during the quarter. NewEdge Advisors LLC's holdings in MercadoLibre were worth $8,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the period. Nordea Investment Management AB increased its stake in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after purchasing an additional 143 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of MercadoLibre by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company's stock valued at $172,613,000 after purchasing an additional 11,166 shares during the period. Finally, Ninety One North America Inc. purchased a new stake in MercadoLibre during the 4th quarter worth approximately $4,923,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Benchmark started coverage on MercadoLibre in a research note on Tuesday, April 15th. They set a "buy" rating and a $2,500.00 target price for the company. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $2,464.67.

MercadoLibre Stock Performance

NASDAQ MELI traded up $36.87 on Thursday, reaching $2,176.79. The stock had a trading volume of 179,934 shares, compared to its average volume of 384,508. The stock has a market cap of $110.36 billion, a P/E ratio of 57.82, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,341.00 and a 12-month high of $2,374.54. The business's 50-day moving average price is $2,045.92 and its 200 day moving average price is $1,963.13. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.