Ardevora Asset Management LLP acquired a new position in Mercadolibre Inc (NASDAQ:MELI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 169,800 shares of the company’s stock, valued at approximately $42,599,000. Mercadolibre comprises about 1.3% of Ardevora Asset Management LLP’s holdings, making the stock its 3rd largest position. Ardevora Asset Management LLP owned 0.38% of Mercadolibre at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MELI. FIL Ltd boosted its position in Mercadolibre by 14.3% in the first quarter. FIL Ltd now owns 34,716 shares of the company’s stock worth $7,341,000 after buying an additional 4,347 shares in the last quarter. Barings LLC bought a new position in Mercadolibre during the first quarter worth $218,000. SG Americas Securities LLC boosted its position in Mercadolibre by 9.1% in the first quarter. SG Americas Securities LLC now owns 12,197 shares of the company’s stock worth $2,579,000 after buying an additional 1,021 shares in the last quarter. Norges Bank bought a new position in Mercadolibre during the fourth quarter worth $36,985,000. Finally, Virginia Retirement Systems ET AL boosted its position in Mercadolibre by 19.4% in the first quarter. Virginia Retirement Systems ET AL now owns 15,400 shares of the company’s stock worth $3,257,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.
Shares of Mercadolibre Inc (NASDAQ MELI) traded up 3.23% during midday trading on Friday, hitting $240.16. 1,296,824 shares of the company were exchanged. The company has a 50-day moving average price of $268.13 and a 200-day moving average price of $240.85. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 73.60 and a beta of 2.05. Mercadolibre Inc has a 52-week low of $148.98 and a 52-week high of $297.95.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $1.06 by $0.45. The business had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. Mercadolibre had a net margin of 1.68% and a return on equity of 4.53%. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. On average, analysts forecast that Mercadolibre Inc will post $3.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 28th. Mercadolibre’s payout ratio is currently 18.40%.
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MELI has been the subject of a number of research analyst reports. Susquehanna Bancshares Inc restated a “market perform” rating and set a $275.00 price objective on shares of Mercadolibre in a research report on Tuesday, August 1st. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Citigroup Inc. raised shares of Mercadolibre from a “sell” rating to a “buy” rating and upped their target price for the stock from $126.10 to $263.45 in a report on Monday, June 19th. Barclays PLC dropped their target price on shares of Mercadolibre from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Finally, Credit Suisse Group upped their target price on shares of Mercadolibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $261.69.
Mercadolibre Company Profile
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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