Sei Investments Co. Sells 54,593 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sei Investments Co. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 113,041 shares of the company’s stock after selling 54,593 shares during the quarter. Sei Investments Co.’s holdings in MercadoLibre were worth $192,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of MercadoLibre by 25.3% during the fourth quarter. American Century Companies Inc. now owns 158,940 shares of the company’s stock valued at $270,268,000 after buying an additional 32,140 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $73,000. 1620 Investment Advisors Inc. raised its position in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of MercadoLibre by 32.0% during the fourth quarter. TD Private Client Wealth LLC now owns 66 shares of the company’s stock valued at $112,000 after buying an additional 16 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $1,396,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald raised their target price 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. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Up 1.3 %

NASDAQ MELI opened at $2,095.27 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $1,997.59 and a two-hundred day moving average of $1,970.94. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.