Prospera Financial Services Inc Acquires 289 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Prospera Financial Services Inc lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 1,111.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 315 shares of the company’s stock after acquiring an additional 289 shares during the quarter. Prospera Financial Services Inc’s holdings in MercadoLibre were worth $201,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its position in MercadoLibre by 120.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock valued at $25,000 after purchasing an additional 18 shares during the period. San Luis Wealth Advisors LLC purchased a new stake in MercadoLibre in the first quarter worth approximately $31,000. Glassman Wealth Services raised its holdings in shares of MercadoLibre by 127.3% during the second quarter. Glassman Wealth Services now owns 50 shares of the company’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. Amalgamated Bank bought a new position in MercadoLibre in the first quarter worth $38,000. Finally, Tcwp LLC purchased a new stake in shares of MercadoLibre in the first quarter worth $46,000. 89.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a research note on Thursday, October 6th. StockNews.com started coverage on MercadoLibre in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group decreased their price objective on MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a report on Monday, October 31st. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,300.00 to $1,350.00 in a report on Monday, August 8th. Finally, Citigroup reduced their price target on shares of MercadoLibre from $1,150.00 to $1,050.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $1,317.00.

MercadoLibre Stock Up 4.2 %

MELI stock opened at $974.89 on Monday. The stock has a market capitalization of $49.03 billion, a P/E ratio of 181.54 and a beta of 1.56. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.27 and a current ratio of 1.34. MercadoLibre, Inc. has a one year low of $600.68 and a one year high of $1,642.61. The company has a 50 day moving average price of $881.62 and a two-hundred day moving average price of $833.05.

MercadoLibre (NASDAQ:MELIGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.31 by $0.25. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $1.92 EPS. MercadoLibre’s revenue was up 41.6% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 8.16 EPS for the current year.

MercadoLibre Profile

(Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Further Reading

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIGet Rating).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.