Prosperity Wealth Management Inc. Buys 25 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Prosperity Wealth Management Inc. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290 shares of the company’s stock after purchasing an additional 25 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in MercadoLibre were worth $566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Capital International Investors increased its holdings in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in MercadoLibre in the fourth quarter valued at about $565,306,000. Capital World Investors increased its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank bought a new stake in MercadoLibre in the fourth quarter valued at about $383,051,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.7%

MELI stock opened at $2,389.48 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $121.15 billion, a P/E ratio of 58.77, a P/E/G ratio of 1.37 and a beta of 1.51. The business has a 50-day moving average of $2,361.70 and a 200-day moving average of $2,080.23. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.78 earnings per share. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MELI. Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,632.50.

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.