Investors Sell Shares of MercadoLibre SA (MELI) on Strength (MELI)
Traders sold shares of MercadoLibre SA (NASDAQ:MELI) on strength during trading hours on Friday. $13.58 million flowed into the stock on the tick-up and $41.64 million flowed out of the stock on the tick-down, for a money net flow of $28.06 million out of the stock. Of all companies tracked, MercadoLibre SA had the 8th highest net out-flow for the day. MercadoLibre SA traded up $0.83 for the day and closed at $154.24
A number of brokerages have recently issued reports on MELI. Zacks Investment Research lowered MercadoLibre SA from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. JPMorgan Chase & Co. lifted their price target on MercadoLibre SA from $121.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, May 16th. Cowen and Company began coverage on MercadoLibre SA in a research note on Monday, April 25th. They issued a “market perform” rating and a $120.00 price target on the stock. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $160.00 price target (up from $150.00) on shares of MercadoLibre SA in a research note on Sunday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $131.67.
The company has a market cap of $6.81 billion and a P/E ratio of 50.74. The firm has a 50-day moving average price of $140.66 and a 200-day moving average price of $120.37.
MercadoLibre SA (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $157.63 million for the quarter, compared to analyst estimates of $145.95 million. During the same period in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre SA will post $2.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, June 28th.
Other institutional investors have modified their holdings of the company. Jennison Associates LLC increased 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 period. US Bancorp DE increased 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 period. Carmignac Gestion increased its position 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 worth $229,661,000 after buying an additional 474,272 shares during the period. State of New Jersey Common Pension Fund D increased 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 period. Finally, Trilogy Global Advisors LP acquired a new position in shares of MercadoLibre SA during the fourth quarter worth about $4,906,000.
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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