Prasad Wealth Partners LLC Invests $902,000 in MercadoLibre, Inc. $MELI

Key Points

• Prasad Wealth Partners LLC has invested $902,000 in MercadoLibre, purchasing 345 shares in the second quarter, according to their recent SEC filing.
• Despite securing significant investment, MercadoLibre's stock has seen a decline, currently trading at approximately $2,154.22, down 0.9% on the day.
• In its latest earnings report, MercadoLibre reported $10.31 EPS, missing analysts' expectations of $12.01, although their revenue increased by 33.8% year-over-year.

Prasad Wealth Partners LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 345 shares of the company's stock, valued at approximately $902,000.

Several other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at about $206,000. NBC Securities Inc. bought a new stake in MercadoLibre during the 1st quarter valued at about $72,000. UMB Bank n.a. lifted its holdings in MercadoLibre by 16.6% during the 1st quarter. UMB Bank n.a. now owns 337 shares of the company's stock valued at $657,000 after buying an additional 48 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in MercadoLibre by 38.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 218 shares of the company's stock valued at $425,000 after buying an additional 61 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in MercadoLibre by 12.0% during the 1st quarter. Park Avenue Securities LLC now owns 1,987 shares of the company's stock valued at $3,876,000 after buying an additional 213 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 0.9%

Shares of MercadoLibre stock opened at $2,154.22 on Tuesday. The firm's 50 day moving average price is $2,378.30 and its 200-day moving average price is $2,345.89. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market cap of $109.22 billion, a P/E ratio of 53.20, a PEG ratio of 1.45 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.48 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MELI. Barclays decreased their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Citigroup cut their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna reissued a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Benchmark reissued a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,822.78.

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.

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