Prime Capital Investment Advisors LLC Has $808,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Prime Capital Investment Advisors LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 394 shares of the company’s stock after selling 13 shares during the period. Prime Capital Investment Advisors LLC’s holdings in MercadoLibre were worth $808,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter worth about $36,000. Quarry LP acquired a new stake in MercadoLibre in the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. raised its stake in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MELI shares. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Morgan Stanley decreased their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Finally, Citigroup increased their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,880.00 on Friday. The business’s 50 day moving average is $2,039.73 and its 200-day moving average is $1,837.90. The firm has a market cap of $95.32 billion, a P/E ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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.