Prestige Wealth Management Group LLC Purchases 15 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Prestige Wealth Management Group LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 88 shares of the company’s stock after buying an additional 15 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in MercadoLibre were worth $150,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MELI. Thrivent Financial for Lutherans boosted its holdings in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares in the last quarter. Cerity Partners LLC lifted its position in shares of MercadoLibre by 25.6% in the 3rd quarter. Cerity Partners LLC now owns 4,875 shares of the company’s stock worth $10,003,000 after purchasing an additional 993 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of MercadoLibre by 11.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 426 shares of the company’s stock valued at $874,000 after purchasing an additional 43 shares in the last quarter. Algert Global LLC increased its position in shares of MercadoLibre by 318.7% during the third quarter. Algert Global LLC now owns 1,633 shares of the company’s stock valued at $3,351,000 after buying an additional 1,243 shares during the period. Finally, Pitcairn Co. raised its stake in MercadoLibre by 5.6% in the third quarter. Pitcairn Co. now owns 282 shares of the company’s stock worth $579,000 after buying an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,191.30 on Wednesday. The business has a 50-day simple moving average of $2,014.23 and a two-hundred day simple moving average of $1,972.78. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $111.09 billion, a price-to-earnings ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $2,402.81.

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.