Prime Capital Investment Advisors LLC Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Prime Capital Investment Advisors LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394 shares of the company’s stock after selling 13 shares during the period. Prime Capital Investment Advisors LLC’s holdings in MercadoLibre were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates boosted its stake in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. Caprock Group LLC lifted its holdings in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares during the period. Sarasin & Partners LLP boosted its position in MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Privium Fund Management UK Ltd bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $875,000. Finally, Meitav Investment House Ltd. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $1,231,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,880.00 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $95.32 billion, a price-to-earnings ratio of 66.34, a P/E/G ratio of 1.31 and a beta of 1.61. The business’s 50-day moving average is $2,039.73 and its 200-day moving average is $1,837.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Citigroup increased their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

About MercadoLibre

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.