CIBC Asset Management Inc purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,382 shares of the company’s stock, valued at approximately $347,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Strs Ohio increased its stake in MercadoLibre by 361.1% in the second quarter. Strs Ohio now owns 2,536 shares of the company’s stock worth $636,000 after buying an additional 1,986 shares in the last quarter. ING Groep NV bought a new stake in MercadoLibre during the second quarter worth about $484,000. Acadian Asset Management LLC increased its stake in MercadoLibre by 51.4% in the second quarter. Acadian Asset Management LLC now owns 350,678 shares of the company’s stock worth $87,975,000 after buying an additional 119,081 shares in the last quarter. APG Asset Management N.V. bought a new stake in MercadoLibre during the second quarter worth about $853,000. Finally, Aperio Group LLC increased its stake in MercadoLibre by 53.0% in the second quarter. Aperio Group LLC now owns 2,420 shares of the company’s stock worth $607,000 after buying an additional 838 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.
Shares of MercadoLibre, Inc. (MELI) opened at 234.19 on Friday. MercadoLibre, Inc. has a 1-year low of $148.98 and a 1-year high of $297.95. The company has a market capitalization of $10.34 billion, a P/E ratio of 71.77 and a beta of 2.05. The firm has a 50-day moving average of $264.92 and a 200 day moving average of $242.39.
MercadoLibre (NASDAQ:MELI) last released its 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 return on equity of 37.59% and a net margin of 13.37%. MercadoLibre’s revenue was up 58.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post $3.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.26%. MercadoLibre’s dividend payout ratio (DPR) is presently 18.40%.
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A number of research firms have recently issued reports on MELI. BidaskClub downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $275.00 price objective (up from $260.00) on shares of MercadoLibre in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $270.00 price objective on shares of MercadoLibre in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $275.00 price objective (down from $290.00) on shares of MercadoLibre in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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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