Virginia Retirement Systems ET AL Invests $324,000 in MercadoLibre SA (MELI)
Virginia Retirement Systems ET AL purchased a new stake in MercadoLibre SA (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The firm purchased 2,300 shares of the company’s stock, valued at approximately $324,000.
Several other large investors have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of MercadoLibre SA by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock valued at $158,000 after buying an additional 175 shares during the period. Societe Generale purchased a new stake in shares of MercadoLibre SA during the second quarter valued at approximately $186,000. SG Americas Securities LLC purchased a new stake in shares of MercadoLibre SA during the second quarter valued at approximately $186,000. Telemus Capital LLC purchased a new stake in shares of MercadoLibre SA during the second quarter valued at approximately $216,000. Finally, Avalon Advisors LLC purchased a new stake in shares of MercadoLibre SA during the first quarter valued at approximately $201,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.
MercadoLibre SA (NASDAQ:MELI) opened at 189.83 on Monday. The firm has a 50-day moving average price of $178.98 and a 200 day moving average price of $147.61. MercadoLibre SA has a one year low of $84.19 and a one year high of $191.76. The firm has a market capitalization of $8.38 billion, a P/E ratio of 64.13 and a beta of 2.08.
MercadoLibre SA (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.59 by $0.23. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The firm earned $199.60 million during the quarter, compared to analyst estimates of $180.94 million. During the same quarter in the previous year, the business posted $0.44 EPS. MercadoLibre SA’s revenue for the quarter was up 29.4% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre SA will post $2.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio (DPR) is presently 20.34%.
Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on MercadoLibre SA from $150.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price objective on shares of MercadoLibre SA in a research report on Tuesday, August 30th. JPMorgan Chase & Co. upgraded MercadoLibre SA from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $173.68 to $200.00 in a research report on Friday, September 2nd. Goldman Sachs Group Inc. assumed coverage on MercadoLibre SA in a research report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, Zacks Investment Research upgraded MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 price objective for the company in a research report on Wednesday, October 5th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.88.
In related news, VP Pedro Arnt sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $168.27, for a total transaction of $504,810.00. Following the completion of the sale, the vice president now directly owns 19,129 shares in the company, valued at $3,218,836.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the sale, the director now owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
About MercadoLibre SA
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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