NewSquare Capital LLC Has $3.10 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

NewSquare Capital LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 98,400.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,970 shares of the company’s stock after purchasing an additional 1,968 shares during the quarter. NewSquare Capital LLC’s holdings in MercadoLibre were worth $3,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $28,000. Archer Investment Corp bought a new position in shares of MercadoLibre in the 4th quarter valued at about $31,000. Larson Financial Group LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $36,000. Proffitt & Goodson Inc. acquired a new position in shares of MercadoLibre during the 3rd quarter worth about $32,000. Finally, Blue Trust Inc. raised its holdings in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after purchasing an additional 9 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MELI shares. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Citigroup dropped their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, UBS Group reduced their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $25.58 during trading hours on Wednesday, reaching $1,369.42. The company had a trading volume of 130,994 shares, compared to its average volume of 384,205. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The firm has a market cap of $69.43 billion, a price-to-earnings ratio of 71.39, a PEG ratio of 0.88 and a beta of 1.44. The firm’s 50 day moving average price is $1,546.31 and its 200-day moving average price is $1,529.78.

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

MercadoLibre 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.