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

Prospect Financial Services LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 441 shares of the company’s stock, valued at approximately $749,000.

Several other large investors have also bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of MercadoLibre in the 3rd quarter worth approximately $35,000. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Trading Up 0.9%

NASDAQ:MELI opened at $1,844.58 on Friday. The stock has a fifty day simple moving average of $1,767.47 and a 200 day simple moving average of $1,788.68. The firm has a market capitalization of $93.52 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the company earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Benchmark dropped their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Finally, Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.