MercadoLibre, Inc. $MELI Shares Purchased by Prospect Financial Services LLC

Prospect Financial Services LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412 shares of the company’s stock after buying an additional 72 shares during the quarter. Prospect Financial Services LLC’s holdings in MercadoLibre were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MELI. Jacksonville Wealth Management LLC grew its position in MercadoLibre by 2.7% during the 2nd quarter. Jacksonville Wealth Management LLC now owns 346 shares of the company’s stock worth $904,000 after purchasing an additional 9 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in MercadoLibre by 53.3% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,658 shares of the company’s stock valued at $12,153,000 after acquiring an additional 1,619 shares during the period. Allianz SE raised its stake in MercadoLibre by 41.8% during the 2nd quarter. Allianz SE now owns 2,227 shares of the company’s stock valued at $5,821,000 after acquiring an additional 656 shares during the last quarter. Good Life Advisors LLC lifted its position in MercadoLibre by 51.1% during the 2nd quarter. Good Life Advisors LLC now owns 287 shares of the company’s stock worth $750,000 after acquiring an additional 97 shares during the period. Finally, Monetta Financial Services Inc. purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $915,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 3.5%

NASDAQ:MELI opened at $2,031.05 on Friday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a fifty day moving average price of $2,264.02 and a two-hundred day moving average price of $2,373.18. The stock has a market capitalization of $102.97 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period last year, the company earned $7.83 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. Susquehanna cut their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Wedbush raised their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,861.25.

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.