MercadoLibre SA (MELI) Sees Strong Trading Volume
MercadoLibre SA (NASDAQ:MELI) shares saw an uptick in trading volume on Friday . 435,082 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 354,618 shares.The stock last traded at $155.22 and had previously closed at $153.41.
Several research firms recently issued reports on MELI. Zacks Investment Research cut shares of MercadoLibre SA from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre SA from $121.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, May 16th. Cowen and Company began coverage on shares of MercadoLibre SA in a report 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 report on Sunday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $131.67.
The firm 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 issued its quarterly earnings data on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, beating 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 period in the previous year, the business posted $0.78 EPS. MercadoLibre SA’s revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that MercadoLibre SA will post $2.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.39%. The ex-dividend date was Tuesday, June 28th.
A number of institutional investors have modified their holdings of MELI. Carmignac Gestion raised 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 valued at $229,661,000 after buying an additional 474,272 shares during the last quarter. Morgan Stanley increased its position 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. WCM Investment Management CA increased its position 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. increased its position 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. Finally, 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 valued at $22,810,000 after buying an additional 7,311 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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