NewEdge Advisors LLC Has $6.04 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

NewEdge Advisors LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 92.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,678 shares of the company’s stock after acquiring an additional 1,768 shares during the quarter. NewEdge Advisors LLC’s holdings in MercadoLibre were worth $6,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Capital World Investors increased its stake in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the period. GQG Partners LLC raised its position in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.7 %

NASDAQ:MELI opened at $2,066.12 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,161.73. The stock has a 50-day moving average price of $1,955.98 and a two-hundred day moving average price of $1,720.04. The stock has a market cap of $104.75 billion, a price-to-earnings ratio of 92.44, a PEG ratio of 1.34 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.16 EPS. As a group, equities analysts expect that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on MELI shares. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, September 23rd. Finally, Bank of America raised their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,217.50.

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.