MercadoLibre SA (MELI) Sees Large Volume Increase
Shares of MercadoLibre SA (NASDAQ:MELI) saw unusually-strong trading volume on Monday . Approximately 1,557,500 shares traded hands during trading, an increase of 203% from the previous session’s volume of 513,992 shares.The stock last traded at $186.16 and had previously closed at $173.68.
Several equities analysts have issued reports on MELI shares. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre SA from $121.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, May 16th. Zacks Investment Research cut shares of MercadoLibre SA from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. Piper Jaffray Cos. reiterated a “buy” rating and issued a $160.00 price objective on shares of MercadoLibre SA in a research note on Friday, July 1st. Finally, Goldman Sachs Group Inc. initiated coverage on shares of MercadoLibre SA in a research note on Tuesday, August 9th. They issued a “neutral” rating and a $170.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $150.29.
The stock has a market cap of $8.22 billion and a P/E ratio of 62.89. The company has a 50 day moving average price of $162.15 and a 200-day moving average price of $134.29.
MercadoLibre SA (NASDAQ:MELI) last posted its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by $0.23. The business earned $199.60 million during the quarter, compared to the consensus estimate of $180.94 million. MercadoLibre SA’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities analysts forecast that MercadoLibre SA will post $2.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.32%.
In other MercadoLibre SA news, VP Pedro Arnt sold 3,000 shares of MercadoLibre SA stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $168.27, for a total value of $504,810.00. Following the transaction, the vice president now owns 19,129 shares in the company, valued at $3,218,836.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Michael Spence sold 3,451 shares of MercadoLibre SA stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $168.97, for a total value of $583,115.47. Following the completion of the transaction, the director now owns 6,903 shares in the company, valued at approximately $1,166,399.91. The disclosure for this sale can be found here.
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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