Sei Investments Co. Grows Stock Position in MercadoLibre, Inc. $MELI

Sei Investments Co. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,907 shares of the company’s stock after buying an additional 4,310 shares during the quarter. Sei Investments Co. owned 0.23% of MercadoLibre worth $308,160,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MELI. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP raised its holdings in MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after purchasing an additional 16,878 shares during the period. Schroder Investment Management Group lifted its position in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after purchasing an additional 74,201 shares in the last quarter. Finally, GQG Partners LLC lifted its position in MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Cantor Fitzgerald reduced their price objective on shares of 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. Finally, Susquehanna decreased their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Down 5.0%

MELI opened at $1,970.73 on Thursday. The company has a market capitalization of $99.92 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The firm has a 50-day simple moving average of $2,128.81 and a two-hundred day simple moving average of $2,322.08. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the company posted $7.83 earnings per share. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.