MercadoLibre SA (MELI) Sees Large Volume Increase
MercadoLibre SA (NASDAQ:MELI) shares saw an uptick in trading volume on Wednesday . 512,890 shares traded hands during trading, an increase of 22% from the previous session’s volume of 421,715 shares.The stock last traded at $167.00 and had previously closed at $168.33.
Several research firms have recently commented on MELI. Cowen and Company began coverage on MercadoLibre SA in a report on Monday, April 25th. They set a “market perform” rating and a $120.00 price target on the stock. Piper Jaffray Cos. lifted their price target on MercadoLibre SA from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. began coverage on MercadoLibre SA in a report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price target on the stock. Zacks Investment Research upgraded MercadoLibre SA from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a report on Wednesday, April 27th. Finally, 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 report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $140.71.
The stock’s 50 day moving average is $154.03 and its 200 day moving average is $128.20. The company has a market cap of $7.37 billion and a PE ratio of 56.41.
MercadoLibre SA (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.23. During the same period last year, the firm earned $0.44 EPS. The business earned $199.60 million during the quarter, compared to analysts’ expectations of $180.94 million. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. Equities research analysts predict that MercadoLibre SA will post $2.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other MercadoLibre SA news, Director A Michael Spence sold 3,451 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pedro Arnt sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $168.27, for a total value of $504,810.00. Following the completion of the sale, the vice president now directly owns 19,129 shares in the company, valued at approximately $3,218,836.83. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its stake in 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 raised its stake in 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 raised its stake in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.