Stevens Capital Management LP lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 248.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,302 shares of the company’s stock after purchasing an additional 10,906 shares during the quarter. Stevens Capital Management LP’s holdings in MercadoLibre were worth $3,839,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of MercadoLibre in the 1st quarter valued at approximately $106,000. Pacer Advisors Inc. purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $146,000. Van ECK Associates Corp raised its position in shares of MercadoLibre by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after purchasing an additional 50 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $226,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $240,000. 85.82% of the stock is owned by hedge funds and other institutional investors.
MELI has been the subject of several research analyst reports. Barclays PLC decreased their price objective on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. Susquehanna Bancshares Inc reaffirmed a “market perform” rating and issued a $275.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of MercadoLibre from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $290.00 price objective on shares of MercadoLibre in a research report on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $261.69.
MercadoLibre, Inc. (MELI) opened at 289.15 on Tuesday. The firm has a market cap of $12.77 billion, a P/E ratio of 88.61 and a beta of 2.04. The company has a 50-day moving average of $258.73 and a 200 day moving average of $252.60. MercadoLibre, Inc. has a one year low of $148.98 and a one year high of $297.95.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share 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 firm had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. During the same quarter in the prior year, the firm posted $0.74 EPS. MercadoLibre’s quarterly revenue was up 58.6% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post $3.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 28th. MercadoLibre’s dividend payout ratio is currently 18.40%.
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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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