MercadoLibre SA (MELI) Sees Large Volume Increase
MercadoLibre SA (NASDAQ:MELI) shares saw unusually-strong trading volume on Tuesday . Approximately 567,163 shares traded hands during trading, an increase of 82% from the previous session’s volume of 311,850 shares.The stock last traded at $151.10 and had previously closed at $149.05.
A number of research analysts have recently commented on MELI shares. Piper Jaffray Cos. reissued an “overweight” rating and set a $160.00 price objective (up previously from $150.00) on shares of MercadoLibre SA in a report on Sunday, April 3rd. Cowen and Company assumed coverage on MercadoLibre SA in a report on Monday, April 25th. They issued a “market perform” rating and a $120.00 target price on the stock. Zacks Investment Research raised MercadoLibre SA from a “sell” rating to a “hold” rating in a report on Saturday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on MercadoLibre SA from $121.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. MercadoLibre SA presently has an average rating of “Hold” and a consensus price target of $131.67.
The stock has a market cap of $6.67 billion and a P/E ratio of 49.70. The firm has a 50 day moving average of $137.27 and a 200 day moving average of $118.34.
MercadoLibre SA (NASDAQ:MELI) last released its earnings results on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $157.63 million for the quarter, compared to the consensus estimate of $145.95 million. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that MercadoLibre SA will post $2.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, June 28th.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of MercadoLibre SA by 0.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 123,493 shares of the company’s stock worth $14,120,000 after buying an additional 725 shares during the last quarter. Howland Capital Management LLC boosted its position in shares of MercadoLibre SA by 6.7% in the fourth quarter. Howland Capital Management LLC now owns 17,461 shares of the company’s stock worth $1,996,000 after buying an additional 1,094 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of MercadoLibre SA by 3.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 62,094 shares of the company’s stock worth $7,100,000 after buying an additional 2,200 shares during the last quarter. US Bancorp DE boosted its position in shares of MercadoLibre SA by 36.2% in the fourth quarter. US Bancorp DE now owns 13,964 shares of the company’s stock worth $1,597,000 after buying an additional 3,712 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of MercadoLibre SA by 3.8% in the fourth quarter. Jennison Associates LLC now owns 199,497 shares of the company’s stock worth $22,810,000 after buying an additional 7,311 shares during the last quarter.
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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