Prospect Financial Services LLC Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Prospect Financial Services LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340 shares of the company's stock after acquiring an additional 100 shares during the period. Prospect Financial Services LLC's holdings in MercadoLibre were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Human Investing LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $26,000. Covestor Ltd purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $27,000. Mather Group LLC. lifted its holdings in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.3%

NASDAQ MELI opened at $2,581.74 on Friday. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $130.89 billion, a price-to-earnings ratio of 68.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company's fifty day moving average price is $2,276.98 and its two-hundred day moving average price is $2,057.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the firm posted $6.78 EPS. The firm's revenue was up 37.0% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Cantor Fitzgerald lowered their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,588.00.

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.

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