Prudential PLC Acquires 2,715 Shares of MercadoLibre, Inc. $MELI

Prudential PLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 39.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,571 shares of the company’s stock after buying an additional 2,715 shares during the period. Prudential PLC’s holdings in MercadoLibre were worth $22,367,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter worth about $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $35,000. Cullen Frost Bankers Inc. grew its position in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the period. Rothschild Investment LLC increased its stake in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 3rd quarter worth approximately $47,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre News Roundup

Here are the key news stories impacting MercadoLibre this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MELI shares. Wedbush dropped their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Morgan Stanley dropped their price target on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. Finally, Barclays cut their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

Get Our Latest Report on MercadoLibre

MercadoLibre Stock Down 0.6%

MELI opened at $1,670.00 on Friday. MercadoLibre, Inc. has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The company has a market cap of $84.67 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $1,996.22 and a 200 day moving average of $2,119.50.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.61 EPS. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

See Also

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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