MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,368 shares of the company's stock after selling 3,147 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.12% of MercadoLibre worth $106,053,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Human Investing LLC acquired a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after buying an additional 8 shares during the period. Covestor Ltd purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $11.59 on Wednesday, reaching $2,139.92. The company's stock had a trading volume of 330,766 shares, compared to its average volume of 385,265. 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 market capitalization of $108.49 billion, a P/E ratio of 56.76, a PEG ratio of 1.12 and a beta of 1.62. The stock has a 50-day moving average price of $2,045.33 and a 200-day moving average price of $1,961.90. MercadoLibre, Inc. has a 52-week low of $1,341.00 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. The company 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%. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $2,415.94.

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.