Verdence Capital Advisors LLC Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Verdence Capital Advisors LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357 shares of the company’s stock after selling 17 shares during the period. Verdence Capital Advisors LLC’s holdings in MercadoLibre were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at $28,000. Archer Investment Corp purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $31,000. Proffitt & Goodson Inc. bought a new position in shares of MercadoLibre in the third quarter worth about $32,000. NBC Securities Inc. purchased a new position in MercadoLibre in the 3rd quarter worth about $35,000. Finally, Blue Trust Inc. lifted its holdings in MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MELI. Barclays dropped their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. Susquehanna upped their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,813.85.

MercadoLibre Stock Performance

Shares of MELI opened at $1,368.23 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $69.37 billion, a PE ratio of 70.02, a P/E/G ratio of 0.87 and a beta of 1.44. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The stock has a fifty day moving average price of $1,552.54 and a 200-day moving average price of $1,528.67.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the business posted $3.25 earnings per share. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 35.77 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.