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

Prospect Financial Services LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240 shares of the company’s stock after purchasing an additional 44 shares during the period. Prospect Financial Services LLC’s holdings in MercadoLibre were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Planning Capital Management Corp raised its position in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP grew its stake in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Strategic Blueprint LLC increased its holdings in MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the last quarter. NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of MercadoLibre by 3.7% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock valued at $407,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,846.00 on Tuesday. The company’s 50 day moving average is $1,844.29 and its two-hundred day moving average is $1,913.18. The firm has a market cap of $93.59 billion, a PE ratio of 65.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MELI shares. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,241.00.

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.