Sei Investments Co. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,904 shares of the company’s stock after selling 16,291 shares during the period. Sei Investments Co. owned 0.32% of MercadoLibre worth $188,236,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MELI. Baillie Gifford & Co. increased its position in shares of MercadoLibre by 4.3% during the second quarter. Baillie Gifford & Co. now owns 6,389,959 shares of the company’s stock worth $7,569,545,000 after purchasing an additional 262,306 shares in the last quarter. FMR LLC increased its position in shares of MercadoLibre by 60.2% during the first quarter. FMR LLC now owns 675,219 shares of the company’s stock worth $889,979,000 after purchasing an additional 253,864 shares in the last quarter. Alphinity Investment Management Pty Ltd increased its position in shares of MercadoLibre by 763.6% during the first quarter. Alphinity Investment Management Pty Ltd now owns 167,320 shares of the company’s stock worth $220,538,000 after purchasing an additional 147,945 shares in the last quarter. Axiom Investors LLC DE increased its position in shares of MercadoLibre by 80.2% in the 1st quarter. Axiom Investors LLC DE now owns 280,106 shares of the company’s stock valued at $369,197,000 after acquiring an additional 124,625 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of MercadoLibre in the 1st quarter valued at $164,197,000. 80.01% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on MELI. Barclays upped their target price on MercadoLibre from $1,575.00 to $1,625.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. TheStreet raised MercadoLibre from a “c+” rating to a “b-” rating in a research report on Wednesday, September 6th. StockNews.com started coverage on MercadoLibre in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup increased their price target on MercadoLibre from $1,500.00 to $1,550.00 in a research report on Wednesday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,700.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $1,643.21.
MercadoLibre Price Performance
Shares of MELI stock traded up $4.84 during mid-day trading on Tuesday, hitting $1,486.83. 145,590 shares of the stock were exchanged, compared to its average volume of 481,953. The firm has a fifty day moving average of $1,297.70 and a 200 day moving average of $1,269.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.80. MercadoLibre, Inc. has a 52-week low of $815.85 and a 52-week high of $1,500.00. The company has a market cap of $75.17 billion, a PE ratio of 75.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.54.
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $7.16 earnings per share for the quarter, beating analysts’ consensus estimates of $5.88 by $1.28. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.57 billion. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. MercadoLibre’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same period last year, the company posted $2.56 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 21.83 earnings per share for the current year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
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