Pier 88 Investment Partners LLC purchased a new position in shares of Mercadolibre Inc (NASDAQ:MELI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,074 shares of the company’s stock, valued at approximately $269,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Mercadolibre by 449.3% in the first quarter. Acadian Asset Management LLC now owns 231,597 shares of the company’s stock valued at $48,975,000 after buying an additional 189,432 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Mercadolibre by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,060 shares of the company’s stock valued at $210,000 after buying an additional 31 shares during the period. Navellier & Associates Inc purchased a new position in Mercadolibre during the first quarter valued at approximately $510,000. Parametrica Management Ltd purchased a new position in Mercadolibre during the first quarter valued at approximately $339,000. Finally, Bank of Montreal Can boosted its position in Mercadolibre by 22.3% in the first quarter. Bank of Montreal Can now owns 20,475 shares of the company’s stock valued at $4,331,000 after buying an additional 3,739 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.
Mercadolibre Inc (MELI) opened at 240.16 on Friday. The stock’s 50 day moving average is $268.13 and its 200-day moving average is $240.85. Mercadolibre Inc has a 1-year low of $148.98 and a 1-year high of $297.95. The firm has a market capitalization of $10.60 billion, a PE ratio of 73.60 and a beta of 2.05.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by $0.45. Mercadolibre had a net margin of 1.68% and a return on equity of 4.53%. The company had revenue of $316.53 million for the quarter, compared to the consensus estimate of $312.16 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Mercadolibre’s revenue for the quarter was up 58.6% compared to the same quarter last year. Equities research analysts forecast that Mercadolibre Inc will post $3.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date is Thursday, September 28th. Mercadolibre’s dividend payout ratio (DPR) is presently 18.40%.
Several research analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Mercadolibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $275.00 price objective (up previously from $213.00) on shares of Mercadolibre in a research report on Tuesday, May 9th. BidaskClub downgraded shares of Mercadolibre from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 price target on shares of Mercadolibre in a research report on Wednesday. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Mercadolibre from a “buy” rating to a “neutral” rating and reduced their price target for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Mercadolibre has an average rating of “Hold” and a consensus target price of $261.69.
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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