NewEdge Advisors LLC Has $8.11 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

NewEdge Advisors LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 52.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,772 shares of the company’s stock after buying an additional 1,641 shares during the period. NewEdge Advisors LLC’s holdings in MercadoLibre were worth $8,114,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in MercadoLibre in the third quarter valued at approximately $12,784,000. Anchor Investment Management LLC lifted its stake in shares of MercadoLibre by 19.1% in the 3rd quarter. Anchor Investment Management LLC now owns 629 shares of the company’s stock valued at $1,291,000 after purchasing an additional 101 shares during the last quarter. World Investment Advisors LLC boosted its holdings in MercadoLibre by 35.7% in the third quarter. World Investment Advisors LLC now owns 475 shares of the company’s stock worth $975,000 after purchasing an additional 125 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in MercadoLibre during the third quarter worth $977,000. Finally, Tidal Investments LLC raised its holdings in MercadoLibre by 59.7% during the third quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock valued at $32,480,000 after buying an additional 5,918 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a report on Tuesday. Benchmark assumed coverage on shares of MercadoLibre in a report on Tuesday. They issued a “buy” rating and a $2,500.00 target price on the stock. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $2,415.94.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,099.37 on Friday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $2,043.29 and a 200 day simple moving average of $1,960.13. The firm has a market capitalization of $106.43 billion, a price-to-earnings ratio of 55.69, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.