MercadoLibre SA (MELI) Shares Gap Up to $142.92
Shares of MercadoLibre SA (NASDAQ:MELI) gapped up before the market opened on Friday . The stock had previously closed at $142.49, but opened at $142.92. MercadoLibre SA shares last traded at $145.17, with a volume of 134,380 shares.
MELI has been the subject of a number of recent research reports. Zacks Investment Research raised MercadoLibre SA from a “sell” rating to a “hold” rating in a report on Saturday, April 2nd. Piper Jaffray Cos. reissued a “buy” rating and set a $160.00 price objective on shares of MercadoLibre SA in a report on Friday, July 1st. JPMorgan Chase & Co. decreased their price objective on MercadoLibre SA from $130.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, March 14th. Finally, Cowen and Company initiated coverage on MercadoLibre SA in a report on Monday, April 25th. They set a “market perform” rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $131.67.
The stock has a market cap of $6.46 billion and a price-to-earnings ratio of 48.10. The company’s 50-day moving average is $136.26 and its 200-day moving average is $117.77.
MercadoLibre SA (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The company earned $157.63 million during the quarter, compared to analysts’ expectations of $145.95 million. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Analysts expect that MercadoLibre SA will post $2.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $0.60 annualized dividend and a yield of 0.41%.
A number of hedge funds recently modified their holdings of MELI. Carmignac Gestion raised its stake in shares of MercadoLibre SA by 30.9% in the fourth quarter. Carmignac Gestion now owns 2,008,581 shares of the company’s stock valued at $229,661,000 after buying an additional 474,272 shares during the period. WCM Investment Management CA raised its stake in shares of MercadoLibre SA by 340.1% in the fourth quarter. WCM Investment Management CA now owns 313,219 shares of the company’s stock valued at $35,814,000 after buying an additional 242,055 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of MercadoLibre SA by 188.1% in the fourth quarter. Thornburg Investment Management Inc. now owns 200,912 shares of the company’s stock valued at $22,972,000 after buying an additional 131,163 shares during the period. Morgan Stanley raised its stake in shares of MercadoLibre SA by 5.9% in the fourth quarter. Morgan Stanley now owns 1,701,032 shares of the company’s stock valued at $194,496,000 after buying an additional 94,818 shares during the period. Finally, Sei Investments Co. raised its stake in shares of MercadoLibre SA by 2,770,200.0% in the fourth quarter. Sei Investments Co. now owns 55,406 shares of the company’s stock valued at $6,335,000 after buying an additional 55,404 shares during the period.
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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