MercadoLibre, Inc. (MELI) Trading Up 9.7%

MercadoLibre, Inc. (NASDAQ:MELI)’s share price was up 9.7% during mid-day trading on Monday . The company traded as high as $286.66 and last traded at $285.26. Approximately 1,285,203 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 784,762 shares. The stock had previously closed at $259.98.

A number of equities analysts have recently issued reports on MELI shares. Susquehanna Bancshares Inc restated a “market perform” rating and issued a $275.00 price target on shares of MercadoLibre in a research note on Tuesday, August 1st. BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Citigroup Inc. upgraded MercadoLibre from a “sell” rating to a “buy” rating and raised their price target for the stock from $126.10 to $263.45 in a research note on Monday, June 19th. Barclays PLC dropped their price target on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. Finally, Zacks Investment Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $261.69.

The firm’s 50-day moving average is $257.44 and its 200-day moving average is $250.03. The company has a market cap of $12.84 billion, a P/E ratio of 89.12 and a beta of 2.04.

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 analysts’ expectations of $312.16 million. During the same period in the previous year, the company posted $0.74 earnings per share. MercadoLibre’s revenue for the quarter was up 58.6% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post $3.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.21%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.

A number of large investors have recently bought and sold shares of the business. Orbis Allan Gray Ltd boosted its holdings in MercadoLibre by 10.2% in the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock valued at $399,304,000 after purchasing an additional 146,891 shares during the last quarter. Koch Industries Inc. boosted its holdings in MercadoLibre by 85,458.8% in the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock valued at $962,000 after purchasing an additional 964,830 shares during the last quarter. Jennison Associates LLC boosted its holdings in MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after purchasing an additional 245,213 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after purchasing an additional 114,824 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock valued at $119,167,000 after purchasing an additional 91,256 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors.

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About MercadoLibre

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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