Prasad Wealth Partners LLC Acquires Shares of 345 MercadoLibre, Inc. $MELI

Prasad Wealth Partners LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 345 shares of the company’s stock, valued at approximately $902,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd lifted its stake in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Highline Wealth Partners LLC boosted its holdings in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research note on Friday. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Trading Down 0.9%

MELI opened at $2,154.22 on Tuesday. 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 company’s 50 day simple moving average is $2,378.30 and its two-hundred day simple moving average is $2,345.89. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $109.22 billion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the business earned $10.48 earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.