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

Prime Capital Investment Advisors LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MELI. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the third quarter worth $35,000. Cullen Frost Bankers Inc. boosted its position in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after acquiring an additional 8 shares during the last quarter. Curio Wealth LLC grew its stake in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new stake in MercadoLibre in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was 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 ninety days, insiders have sold 1,136 shares of company stock worth $2,308,788. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MELI. Wedbush cut their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, Benchmark lowered their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned 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 a consensus target price of $2,876.88.

MercadoLibre Price Performance

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

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.