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

Key Points

• Sei Investments Co. increased its MercadoLibre stake by 20.1% in the first quarter, buying 21,130 more shares and bringing its total to 126,189 shares valued at about $218.2 million.
• Other major institutional investors also added to their positions, and overall 87.62% of MercadoLibre stock is owned by institutions and hedge funds.
• Analysts remain mostly positive, with an average Moderate Buy rating and a consensus target price of $2,258.67, though MercadoLibre recently reported earnings below estimates despite revenue topping forecasts.

Sei Investments Co. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,189 shares of the company's stock after purchasing an additional 21,130 shares during the quarter. Sei Investments Co. owned 0.25% of MercadoLibre worth $218,184,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after buying an additional 164,120 shares during the period. Capital Research Global Investors raised its holdings in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the period. Capital International Investors raised its holdings in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after acquiring an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in MercadoLibre by 26.4% in the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock valued at $1,216,807,000 after acquiring an additional 126,294 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,258.67.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

MercadoLibre Trading Down 1.3%

Shares of NASDAQ:MELI opened at $1,799.21 on Thursday. The company's 50-day moving average price is $1,697.03 and its two-hundred day moving average price is $1,817.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The stock has a market capitalization of $91.22 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company's quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.74 earnings per share. On average, equities analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

MercadoLibre Profile

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.

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