Oppenheimer Asset Management Inc. decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 36.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,944 shares of the company’s stock after selling 2,269 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MercadoLibre were worth $990,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in MELI. Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 45.9% during the 2nd quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after buying an additional 245,213 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of MercadoLibre during the 2nd quarter worth about $42,599,000. Whale Rock Capital Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter worth about $30,322,000. Acadian Asset Management LLC boosted its holdings in shares of MercadoLibre by 51.4% during the 2nd 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 during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of MercadoLibre by 25.2% during the 1st quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after buying an additional 114,824 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on MELI. Bank of America Corporation lifted their target price on shares of MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. BidaskClub raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Citigroup Inc. downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a report on Friday, June 23rd. J P Morgan Chase & Co downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $296.24 to $300.00 in a report on Tuesday, May 16th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $290.00 target price on shares of MercadoLibre in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $261.69.
Shares of MercadoLibre, Inc. (NASDAQ MELI) opened at 259.98 on Monday. The firm has a market cap of $11.48 billion, a PE ratio of 79.68 and a beta of 2.04. The firm has a 50-day moving average of $258.01 and a 200 day moving average of $248.39. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95.
MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by $0.45. The business had revenue of $316.53 million for 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 for the quarter was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Equities research analysts predict that MercadoLibre, Inc. will post $3.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.23%. MercadoLibre’s dividend payout ratio is presently 18.40%.
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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