Pier 88 Investment Partners LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The firm bought 1,074 shares of the company’s stock, valued at approximately $269,000.
Other large investors also recently modified their holdings of the company. Orbis Allan Gray Ltd raised its stake in shares of MercadoLibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock worth $212,407,000 after buying an additional 697,057 shares during the period. Clearbridge Investments LLC raised its stake in shares of MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after buying an additional 114,824 shares during the period. William Blair Investment Management LLC raised its stake in shares of MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock worth $119,167,000 after buying an additional 91,256 shares during the period. Harding Loevner LP raised its stake in shares of MercadoLibre by 2.5% in the first quarter. Harding Loevner LP now owns 550,380 shares of the company’s stock worth $116,389,000 after buying an additional 13,200 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of MercadoLibre by 5.3% in the first quarter. OppenheimerFunds Inc. now owns 347,000 shares of the company’s stock worth $73,380,000 after buying an additional 17,320 shares during the period. 91.32% of the stock is owned by institutional investors.
Shares of MercadoLibre, Inc. (NASDAQ MELI) traded up 0.93% on Monday, reaching $276.12. 784,125 shares of the company traded hands. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 78.85 and a beta of 2.03. MercadoLibre, Inc. has a 52-week low of $147.33 and a 52-week high of $297.95. The stock has a 50 day moving average of $276.49 and a 200 day moving average of $219.31.
MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.32. The firm had revenue of $273.90 million during the quarter, compared to analysts’ expectations of $247.85 million. MercadoLibre had a net margin of 16.10% and a return on equity of 41.12%. The company’s revenue for the quarter was up 73.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post $4.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Wednesday, June 28th. MercadoLibre’s dividend payout ratio is currently 17.14%.
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MELI has been the subject of a number of research reports. Credit Suisse Group lifted their target price on shares of MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. BidaskClub downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC restated a “buy” rating and set a $275.00 price target on shares of MercadoLibre in a report on Sunday, May 7th. Zacks Investment Research downgraded shares of MercadoLibre from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price target for the company from $309.00 to $290.00 in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. MercadoLibre currently has an average rating of “Hold” and an average target price of $257.46.
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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