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

Sei Investments Co. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,041 shares of the company’s stock after selling 54,593 shares during the quarter. Sei Investments Co. owned 0.22% of MercadoLibre worth $192,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MELI. Swedbank AB lifted its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Empowered Funds LLC lifted its position in MercadoLibre by 5.3% during the third quarter. Empowered Funds LLC now owns 697 shares of the company’s stock valued at $1,430,000 after purchasing an additional 35 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MercadoLibre by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after acquiring an additional 21 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of MercadoLibre by 268.1% during the third quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock worth $355,000 after acquiring an additional 126 shares in the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of MercadoLibre by 50.2% during the third quarter. Moran Wealth Management LLC now owns 419 shares of the company’s stock worth $860,000 after acquiring an additional 140 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,095.27 on Friday. The company’s 50-day moving average is $1,997.59 and its 200 day moving average is $1,970.94. 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 company has a market capitalization of $106.22 billion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping 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 firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MELI. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Barclays lifted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

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.