Prudential PLC Has $4.75 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Prudential PLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,025 shares of the company’s stock after acquiring an additional 461 shares during the period. Prudential PLC’s holdings in MercadoLibre were worth $4,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kolinsky Wealth Management LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $344,000. AdvisorShares Investments LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $691,000. Epoch Investment Partners Inc. raised its holdings in shares of MercadoLibre by 2.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,802 shares of the company’s stock worth $2,832,000 after acquiring an additional 35 shares during the period. Vinva Investment Management Ltd raised its holdings in shares of MercadoLibre by 33.4% during the fourth quarter. Vinva Investment Management Ltd now owns 3,608 shares of the company’s stock worth $5,706,000 after acquiring an additional 903 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in MercadoLibre by 113.6% in the 4th quarter. Morningstar Investment Services LLC now owns 440 shares of the company’s stock valued at $696,000 after buying an additional 234 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded down $20.93 during trading on Friday, hitting $1,600.16. 292,799 shares of the company were exchanged, compared to its average volume of 308,220. The business’s 50 day moving average is $1,573.64 and its 200-day moving average is $1,604.88. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a market capitalization of $81.13 billion, a P/E ratio of 71.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.60.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.64 by $0.14. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.97 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup cut their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, Barclays upped their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,881.92.

Get Our Latest Stock Report on MELI

About MercadoLibre

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.