Prosperity Wealth Management Inc. Makes New $228,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Prosperity Wealth Management Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, Holdings Channel.com reports. The firm purchased 145 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors have also modified their holdings of MELI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MercadoLibre by 31.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,981 shares of the company’s stock worth $59,689,000 after acquiring an additional 9,000 shares during the last quarter. Donaldson Capital Management LLC raised its position in shares of MercadoLibre by 2.8% during the 4th quarter. Donaldson Capital Management LLC now owns 978 shares of the company’s stock worth $1,536,000 after purchasing an additional 27 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of MercadoLibre by 50.2% in the 4th quarter. Mackenzie Financial Corp now owns 1,765 shares of the company’s stock worth $2,774,000 after purchasing an additional 590 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in MercadoLibre by 60.5% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 276 shares of the company’s stock valued at $434,000 after purchasing an additional 104 shares during the period. Finally, River Street Advisors LLC bought a new position in MercadoLibre during the 4th quarter worth $236,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,397.86 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $1,574.80 and its 200 day moving average price is $1,523.84. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a market cap of $70.87 billion, a P/E ratio of 71.54, a PEG ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business posted $3.25 EPS. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Wedbush restated an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research note on Tuesday, March 5th. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Barclays decreased their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,813.85.

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.