Prime Capital Investment Advisors LLC Sells 1,686 Shares of MercadoLibre, Inc. $MELI

Prime Capital Investment Advisors LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 83.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 327 shares of the company’s stock after selling 1,686 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in MercadoLibre were worth $565,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Wedbush Fund Advisers LLC purchased a new position in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Twin Lakes Capital Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth approximately $31,000. Markowski Investments bought a new position in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. Byrne Asset Management LLC purchased a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $40,000. Finally, Continuum Advisory LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $44,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $1,810.15 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,428.00. The firm’s 50-day simple moving average is $1,862.02 and its two-hundred day simple moving average is $1,788.72. The stock has a market cap of $91.77 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the business earned $10.31 earnings per share. The business’s revenue was up 49.8% on a year-over-year basis. Analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a report on Monday, October 12th. New Street Research started coverage on MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective for the company. Finally, BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, September 3rd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,251.88.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.