Prospect Financial Services LLC Boosts Position in MercadoLibre, Inc. $MELI

Prospect Financial Services LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% during the 2nd quarter, Holdings Channel reports. The firm owned 412 shares of the company’s stock after acquiring an additional 72 shares during the quarter. Prospect Financial Services LLC’s holdings in MercadoLibre were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ninety One North America Inc. increased its position in MercadoLibre by 21.5% during the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of MercadoLibre by 4.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Jennison Associates LLC increased its position in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its position in MercadoLibre by 10.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,031.05 on Friday. The company has a market cap of $102.97 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock’s 50-day moving average is $2,264.02 and its 200-day moving average is $2,373.18.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MELI. Morgan Stanley raised 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. Benchmark lowered their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Citigroup dropped their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

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.