Pillar Pacific Capital Management LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 20.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the company’s stock after acquiring an additional 550 shares during the period. Pillar Pacific Capital Management LLC’s holdings in MercadoLibre were worth $853,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in MELI. Orbis Allan Gray Ltd grew its holdings in shares of MercadoLibre by 10.2% during the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after purchasing an additional 146,891 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of MercadoLibre by 85,458.8% during the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after purchasing an additional 964,830 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 45.9% during the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after purchasing an additional 245,213 shares during the last quarter. Harding Loevner LP grew its holdings in shares of MercadoLibre by 1.7% during the second quarter. Harding Loevner LP now owns 559,944 shares of the company’s stock worth $140,479,000 after purchasing an additional 9,564 shares during the last quarter. Finally, Capital World Investors boosted its holdings in MercadoLibre by 48.6% in the second quarter. Capital World Investors now owns 353,763 shares of the company’s stock valued at $88,752,000 after acquiring an additional 115,663 shares during the last quarter. Hedge funds and other institutional investors own 83.92% of the company’s stock.
Several analysts recently commented on MELI shares. KeyCorp reiterated a “buy” rating and issued a $290.00 target price on shares of MercadoLibre in a report on Tuesday, October 17th. Susquehanna Bancshares Inc reiterated a “market perform” rating and issued a $275.00 target price on shares of MercadoLibre in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $275.00 target price on shares of MercadoLibre in a report on Wednesday, October 4th. Barclays PLC reduced their target price on MercadoLibre from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday. Finally, BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $264.28.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.07. The firm had revenue of $370.66 million for the quarter, compared to analyst estimates of $347.29 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The business’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS.
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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