Sei Investments Co. Purchases 21,130 Shares of MercadoLibre, Inc. $MELI

Sei Investments Co. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 20.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,189 shares of the company’s stock after acquiring an additional 21,130 shares during the quarter. Sei Investments Co.’s holdings in MercadoLibre were worth $218,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth approximately $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.3%

MercadoLibre stock opened at $1,799.21 on Thursday. The stock has a market cap of $91.22 billion, a P/E ratio of 47.49, a P/E/G ratio of 1.12 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company’s 50-day moving average price is $1,697.03 and its two-hundred day moving average price is $1,817.14.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 EPS. The company’s revenue was up 49.0% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Scotiabank dropped their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup raised their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

About MercadoLibre

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.