MercadoLibre SA (MELI) Sees Unusually-High Trading Volume
Shares of MercadoLibre SA (NASDAQ:MELI) saw unusually-high trading volume on Friday . Approximately 435,082 shares changed hands during 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.
MELI has been the topic of several recent analyst reports. Zacks Investment Research upgraded MercadoLibre SA from a “sell” rating to a “hold” rating in a research note on Saturday, April 2nd. Piper Jaffray Cos. restated a “buy” rating and set a $160.00 price objective on shares of MercadoLibre SA in a research note on Friday, July 1st. Cowen and Company initiated coverage on MercadoLibre SA in a research note on Monday, April 25th. They set a “market perform” rating and a $120.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre SA from $121.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. MercadoLibre SA currently has an average rating of “Hold” and an average target price of $131.67.
The firm has a market cap of $6.81 billion and a P/E ratio of 50.74. The company 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 earnings results on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ 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 business posted $0.78 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that MercadoLibre SA will post $2.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Tuesday, June 28th.
Several large investors have recently modified their holdings of MELI. US Bancorp DE increased its stake 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 valued at $1,597,000 after buying an additional 3,712 shares during the period. Howland Capital Management LLC increased its stake 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 valued at $1,996,000 after buying an additional 1,094 shares during the period. Trilogy Global Advisors LP purchased a new stake in shares of MercadoLibre SA during the fourth quarter valued at approximately $4,906,000. State of New Jersey Common Pension Fund D increased its stake 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 valued at $7,100,000 after buying an additional 2,200 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake 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 valued at $14,120,000 after buying an additional 725 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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