MercadoLibre, Inc. (MELI) Shares Sold by Kora Management LP
Kora Management LP lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 21.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,250 shares of the company’s stock after selling 15,000 shares during the quarter. MercadoLibre comprises 8.7% of Kora Management LP’s portfolio, making the stock its 7th largest position. Kora Management LP owned approximately 0.12% of MercadoLibre worth $13,610,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp grew its holdings in MercadoLibre by 7.3% in the first 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. Wedbush Securities Inc. grew its holdings in MercadoLibre by 1.8% in the second quarter. Wedbush Securities Inc. now owns 3,180 shares of the company’s stock worth $798,000 after purchasing an additional 55 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in MercadoLibre by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock worth $486,000 after purchasing an additional 100 shares during the period. Perigon Wealth Management LLC grew its holdings in MercadoLibre by 3.0% in the first quarter. Perigon Wealth Management LLC now owns 3,979 shares of the company’s stock worth $842,000 after purchasing an additional 115 shares during the period. Finally, Creative Planning grew its holdings in MercadoLibre by 12.5% in the second quarter. Creative Planning now owns 1,695 shares of the company’s stock worth $425,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.
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MercadoLibre, Inc. (MELI) traded up 2.42% during midday trading on Thursday, hitting $270.19. 283,524 shares of the stock were exchanged. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The firm’s 50 day moving average price is $262.70 and its 200 day moving average price is $257.49. The company has a market cap of $11.93 billion, a PE ratio of 82.80 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the 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 business had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. During the same quarter in the prior year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post $2.97 earnings per share for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. MercadoLibre’s dividend payout ratio (DPR) is presently 18.40%.
A number of equities research analysts have weighed in on MELI shares. Barclays PLC upped their price objective on shares of MercadoLibre from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, June 9th. Goldman Sachs Group, Inc. (The) cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $309.00 to $290.00 in a report on Tuesday, June 13th. Citigroup Inc. upgraded shares of MercadoLibre from a “sell” rating to a “buy” rating and upped their price objective for the stock from $126.10 to $263.45 in a report on Monday, June 19th. BidaskClub cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Credit Suisse Group restated a “buy” rating and issued a $290.00 price objective on shares of MercadoLibre in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MercadoLibre currently has an average rating of “Hold” and a consensus price target of $260.13.
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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