Kayne Anderson Rudnick Investment Management LLC Has $110.43 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,197 shares of the company’s stock after selling 2,660 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.13% of MercadoLibre worth $110,432,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First PREMIER Bank bought a new stake in MercadoLibre in the first quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. DSM Capital Partners LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth about $36,000. Scarborough Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $36,000. Finally, Financial Connections Group Inc. bought a new position in MercadoLibre during the 2nd quarter valued at about $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,103.75 on Friday. The company has a market cap of $106.65 billion, a PE ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,157.64. The company’s 50-day moving average is $1,899.17 and its two-hundred day moving average is $1,690.40.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. Equities analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on MELI shares. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Finally, Barclays raised their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,207.31.

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.