Andra AP fonden Acquires 3,500 Shares of MercadoLibre, Inc. (MELI)
Andra AP fonden grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 291.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,700 shares of the company’s stock after buying an additional 3,500 shares during the quarter. Andra AP fonden’s holdings in MercadoLibre were worth $1,179,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of MercadoLibre by 7.3% during the 1st quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after buying an additional 50 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of MercadoLibre by 1.8% during the 2nd quarter. Wedbush Securities Inc. now owns 3,180 shares of the company’s stock valued at $798,000 after buying an additional 55 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of MercadoLibre by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock valued at $486,000 after buying an additional 100 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of MercadoLibre by 3.0% during the 1st quarter. Perigon Wealth Management LLC now owns 3,979 shares of the company’s stock valued at $842,000 after buying an additional 115 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of MercadoLibre by 1.9% during the 1st quarter. Blair William & Co. IL now owns 9,225 shares of the company’s stock valued at $1,945,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.
Several brokerages have recently issued reports on MELI. Credit Suisse Group upped their target price on shares of MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. J P Morgan Chase & Co restated a “neutral” rating and set a $270.00 target price on shares of MercadoLibre in a research report on Wednesday, August 9th. BidaskClub cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Finally, Barclays PLC upped their target price on shares of MercadoLibre from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $261.69.
Shares of MercadoLibre, Inc. (NASDAQ:MELI) opened at 257.88 on Thursday. The company has a 50-day moving average of $259.27 and a 200-day moving average of $248.24. MercadoLibre, Inc. has a 52-week low of $148.98 and a 52-week high of $297.95. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 79.03 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.45. The company had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. MercadoLibre’s revenue was up 58.6% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post $3.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is currently 18.40%.
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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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