Shell Asset Management Co. Has $566,000 Position in MercadoLibre, Inc. (MELI)
Shell Asset Management Co. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 78.6% during the second quarter, Holdings Channel reports. The firm owned 2,257 shares of the company’s stock after selling 8,287 shares during the period. Shell Asset Management Co.’s holdings in MercadoLibre were worth $566,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of MercadoLibre by 53.0% in the fourth quarter. Macquarie Group Ltd. now owns 26,121 shares of the company’s stock valued at $4,078,000 after buying an additional 9,052 shares during the period. Bank of Montreal Can boosted its position in shares of 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. Parametrica Management Ltd bought a new position in shares of MercadoLibre during the first quarter valued at about $339,000. Navellier & Associates Inc bought a new position in shares of MercadoLibre during the first quarter valued at about $510,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of 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. 92.41% of the stock is owned by institutional investors and hedge funds.
MercadoLibre, Inc. (MELI) opened at 240.16 on Monday. MercadoLibre, Inc. has a 12-month low of $148.98 and a 12-month high of $297.95. The firm has a market cap of $10.60 billion, a PE ratio of 73.60 and a beta of 2.05. The company has a 50-day moving average price of $268.13 and a 200-day moving average price of $240.85.
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. On average, equities analysts predict that MercadoLibre, Inc. will post $3.32 earnings per share for the current 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 of this dividend is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. MercadoLibre’s payout ratio is 18.40%.
MELI has been the subject of several analyst reports. Credit Suisse Group boosted their price objective on MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Barclays PLC reissued a “buy” rating and issued a $275.00 price objective on shares of MercadoLibre in a report on Sunday, May 7th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $275.00 price objective (up previously from $213.00) on shares of MercadoLibre in a report on Tuesday, May 9th. J P Morgan Chase & Co cut MercadoLibre from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $296.24 to $300.00 in a report on Tuesday, May 16th. Finally, Bank of America Corporation boosted their price objective on MercadoLibre from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. MercadoLibre has an average rating of “Hold” and a consensus target price 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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