Koch Industries Inc. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 85,458.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 965,959 shares of the company’s stock after purchasing an additional 964,830 shares during the quarter. Koch Industries Inc. owned 2.19% of MercadoLibre worth $962,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in MercadoLibre in the 1st quarter worth about $106,000. Pacer Advisors Inc. acquired a new position in MercadoLibre in the 2nd quarter worth about $146,000. Van ECK Associates Corp raised its holdings in MercadoLibre by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after purchasing an additional 50 shares during the period. Ameritas Investment Partners Inc. acquired a new position in MercadoLibre in the 2nd quarter worth about $198,000. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in MercadoLibre in the 2nd quarter worth about $226,000. 85.84% of the stock is owned by institutional investors.
Shares of MercadoLibre, Inc. (MELI) traded up 0.84% during trading on Friday, hitting $248.33. The company’s stock had a trading volume of 816,521 shares. MercadoLibre, Inc. has a one year low of $148.98 and a one year high of $297.95. The company has a 50-day moving average price of $267.34 and a 200-day moving average price of $259.60. The stock has a market cap of $10.97 billion, a PE ratio of 76.10 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The company had revenue of $316.53 million for the quarter, compared to analyst estimates of $312.16 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. MercadoLibre’s revenue was up 58.6% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post $2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. MercadoLibre’s payout ratio is 18.40%.
A number of equities analysts recently weighed in on MELI shares. Barclays PLC reduced their price target on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Susquehanna Bancshares Inc reaffirmed a “market perform” rating and issued a $275.00 price target on shares of MercadoLibre in a report on Tuesday, August 1st. Credit Suisse Group reaffirmed a “buy” rating and issued a $290.00 price target on shares of MercadoLibre in a report on Friday, July 7th. BidaskClub raised MercadoLibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Citigroup Inc. raised MercadoLibre from a “sell” rating to a “buy” rating and upped their price target for the stock from $126.10 to $263.45 in a report on Monday, June 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $256.67.
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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