Proem Advisors LLC Makes New $3.06 Million Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Proem Advisors LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,800 shares of the company's stock, valued at approximately $3,061,000. MercadoLibre makes up 0.8% of Proem Advisors LLC's holdings, making the stock its 19th biggest holding.

Several other large investors have also recently bought and sold shares of MELI. Human Investing LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $32,000. Finally, Mather Group LLC. lifted its stake in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. Susquehanna lifted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Stock Down 5.4 %

MELI traded down $104.26 on Friday, hitting $1,841.29. 852,116 shares of the company were exchanged, compared to its average volume of 382,455. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock's fifty day moving average is $2,036.90 and its 200-day moving average is $1,966.91. The company has a market cap of $93.35 billion, a PE ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.