Prudential PLC Has $22.37 Million Stock Position in MercadoLibre, Inc. $MELI

Prudential PLC increased its position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 39.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadcap Wealth Management LLC grew its stake in MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after acquiring an additional 5 shares during the period. PFW Advisors LLC raised its position in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of MercadoLibre by 3.5% in the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in shares of MercadoLibre by 2.3% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after purchasing an additional 5 shares in the last quarter. Finally, Hardy Reed LLC grew its position in MercadoLibre by 4.0% in the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Barclays dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Finally, UBS Group dropped their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,725.33.

View Our Latest Report on MercadoLibre

MercadoLibre Trading Down 0.6%

NASDAQ:MELI opened at $1,670.00 on Friday. MercadoLibre, Inc. has a 52 week low of $1,631.18 and a 52 week high of $2,645.22. The firm has a 50-day moving average price of $1,996.22 and a two-hundred day moving average price of $2,119.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 42.39, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48.

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

Trending Headlines about MercadoLibre

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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

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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