Sanctuary Wealth Advisors LLC Buys New Stake in MercadoLibre, Inc. (NASDAQ:MELI)
Sanctuary Wealth Advisors LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The fund bought 12,581 shares of the company’s stock, valued at approximately $3,156,000. MercadoLibre accounts for about 2.8% of Sanctuary Wealth Advisors LLC’s holdings, making the stock its 24th largest position.
A number of other institutional investors have also recently added to or reduced their stakes in MELI. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in MercadoLibre by 3.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the company’s stock worth $1,277,000 after buying an additional 176 shares during the period. Cookson Peirce & Co. Inc. boosted its position in MercadoLibre by 6.5% in the first quarter. Cookson Peirce & Co. Inc. now owns 18,580 shares of the company’s stock worth $3,929,000 after buying an additional 1,130 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in MercadoLibre by 14.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,196 shares of the company’s stock worth $675,000 after buying an additional 410 shares during the period. Nikko Asset Management Americas Inc. boosted its position in MercadoLibre by 20.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,000 shares of the company’s stock worth $634,000 after buying an additional 500 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in MercadoLibre during the first quarter worth about $169,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.
Shares of MercadoLibre, Inc. (MELI) opened at 260.47 on Monday. The firm has a market capitalization of $11.50 billion, a P/E ratio of 74.38 and a beta of 2.05. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The company has a 50-day moving average of $270.73 and a 200 day moving average of $237.44.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 38.10% and a net margin of 13.37%. The firm had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post $4.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.
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A number of equities analysts have issued reports on the company. J P Morgan Chase & Co cut MercadoLibre from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $296.24 to $300.00 in a report on Tuesday, May 16th. Bank of America Corporation increased their price objective on shares of MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Susquehanna Bancshares Inc restated a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 1st. Credit Suisse Group increased their price objective on shares of MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Barclays PLC reduced their price objective on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $259.91.
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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