MercadoLibre, Inc. $MELI Stock: Prime Capital Investment Advisors LLC Decreases Position

Key Points

• Prime Capital Investment Advisors cut its MercadoLibre stake by 83.8% in the third quarter, selling 1,686 shares and retaining 327 shares valued at approximately $565,000.
• MercadoLibre reported quarterly EPS of $9.19 and revenue of $10.17 billion, exceeding analyst estimates; revenue increased 49.8% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $2,251.88, compared with the stock’s reported price of $1,810.15.

Prime Capital Investment Advisors LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 83.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327 shares of the company's stock after selling 1,686 shares during the period. Prime Capital Investment Advisors LLC's holdings in MercadoLibre were worth $565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wedbush Fund Advisers LLC purchased a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Twin Lakes Capital Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $31,000. Markowski Investments purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $36,000. Byrne Asset Management LLC purchased a new stake in shares of MercadoLibre during the third quarter valued at approximately $40,000. Finally, Continuum Advisory LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $44,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

MELI opened at $1,810.15 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market capitalization of $91.77 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.31. The stock's 50 day moving average price is $1,862.02 and its 200-day moving average price is $1,788.72. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm's revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.31 earnings per share. On average, equities research analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MELI. Citigroup cut their price target on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. New Street Research assumed coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price objective for the company. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, September 3rd. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Susquehanna raised their target price on MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research note on Tuesday, October 6th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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