Prestige Wealth Management Group LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Prestige Wealth Management Group LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88 shares of the company’s stock after acquiring an additional 15 shares during the period. Prestige Wealth Management Group LLC’s holdings in MercadoLibre were worth $150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MELI. Human Investing LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. increased its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. grew its stake in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,191.30 on Wednesday. The stock has a market capitalization of $111.09 billion, a price-to-earnings ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a fifty day moving average of $2,014.23 and a 200-day moving average of $1,972.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on MELI. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.