Prosperity Wealth Management Inc. Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Prosperity Wealth Management Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 60.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 265 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in MercadoLibre were worth $451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $565,306,000. Strategic Financial Concepts LLC increased its stake in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after acquiring an additional 181,849 shares during the period. FMR LLC grew its position in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. Wellington Management Group LLP grew its position in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the period. Finally, Swedbank AB grew its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $1,990.11 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $100.89 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company’s 50 day simple moving average is $1,952.66 and its 200 day simple moving average is $1,969.27.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on MELI shares. Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Susquehanna increased their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

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.