Prime Capital Investment Advisors LLC Sells 288 Shares of MercadoLibre, Inc. $MELI

Prime Capital Investment Advisors LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 33.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 577 shares of the company’s stock after selling 288 shares during the period. Prime Capital Investment Advisors LLC’s holdings in MercadoLibre were worth $1,348,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in MercadoLibre during the 3rd quarter worth $35,000. Cullen Frost Bankers Inc. increased its holdings in MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the period. Curio Wealth LLC raised its position in MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter worth $39,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark dropped their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Susquehanna lowered their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. UBS Group cut their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Finally, Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,876.88.

MercadoLibre Trading Down 3.2%

NASDAQ MELI opened at $1,970.15 on Monday. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company has a 50 day moving average price of $2,074.84 and a 200 day moving average price of $2,204.17. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market cap of $99.89 billion, a PE ratio of 48.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44.

Insider Activity

In related news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,136 shares of company stock worth $2,308,788. Insiders own 0.25% of the company’s stock.

MercadoLibre Company Profile

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.