Kayne Anderson Rudnick Investment Management LLC Sells 3,147 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,368 shares of the company's stock after selling 3,147 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.12% of MercadoLibre worth $106,053,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after acquiring an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares during the last quarter. Formidable Asset Management LLC grew its holdings in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after acquiring an additional 5 shares during the last quarter. Finally, Nvwm LLC grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock worth $1,933,000 after acquiring an additional 6 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several research reports. Cantor Fitzgerald lowered their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Bank of America increased their price objective 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. Finally, Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,572.86.

MercadoLibre Trading Down 0.2%

MELI stock traded down $4.46 during midday trading on Wednesday, hitting $2,550.71. 267,489 shares of the company's stock were exchanged, compared to its average volume of 383,027. The stock's fifty day moving average price is $2,208.60 and its 200-day moving average price is $2,027.00. 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 cap of $129.31 billion, a PE ratio of 67.66, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company posted $6.78 earnings per share. The company's revenue for the quarter was up 37.0% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.