Verdence Capital Advisors LLC Purchases 220 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Verdence Capital Advisors LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 62.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575 shares of the company’s stock after purchasing an additional 220 shares during the period. Verdence Capital Advisors LLC’s holdings in MercadoLibre were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors increased its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter valued at $36,000. Quarry LP bought a new position in MercadoLibre during the 2nd quarter worth $43,000. Finally, NBC Securities Inc. lifted its holdings in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Citigroup increased their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Morgan Stanley upped their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,309.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,872.01 on Friday. The business has a 50-day simple moving average of $2,046.45 and a 200 day simple moving average of $1,822.55. The firm has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.25 billion. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.28 earnings per share for the current fiscal year.

About MercadoLibre

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.