Perpetual Ltd cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 26.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,218 shares of the company’s stock after selling 3,657 shares during the quarter. Perpetual Ltd’s holdings in MercadoLibre were worth $2,563,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $106,000. Toronto Dominion Bank raised its stake in shares of MercadoLibre by 18.4% in the 2nd quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after acquiring an additional 80 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $146,000. Ameritas Investment Partners Inc. purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $198,000. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $226,000. 84.79% of the stock is currently owned by institutional investors.
Shares of MercadoLibre, Inc. (NASDAQ:MELI) traded up 2.34% during mid-day trading on Friday, reaching $234.36. 560,905 shares of the company were exchanged. The company’s 50-day moving average is $263.05 and its 200 day moving average is $261.10. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 71.82 and a beta of 2.03.
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 the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). The firm had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The business’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts predict that MercadoLibre, Inc. will post $2.76 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were paid a $0.15 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.26%. MercadoLibre’s dividend payout ratio (DPR) is presently 18.40%.
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Several equities research analysts recently weighed in on MELI shares. Credit Suisse Group reaffirmed a “buy” rating and set a $290.00 target price on shares of MercadoLibre in a research note on Friday, July 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $287.00 target price on shares of MercadoLibre in a research note on Thursday, July 13th. BidaskClub raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Barclays PLC cut their target price on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. Finally, Susquehanna Bancshares Inc reiterated a “market perform” rating and set a $275.00 price target on shares of MercadoLibre in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $257.69.
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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