First Mercantile Trust Co. Has $1.25 Million Position in MercadoLibre, Inc. (MELI)
First Mercantile Trust Co. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock after selling 2,500 shares during the period. First Mercantile Trust Co.’s holdings in MercadoLibre were worth $1,254,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC raised its stake in shares of MercadoLibre by 449.3% in the first quarter. Acadian Asset Management LLC now owns 231,597 shares of the company’s stock valued at $48,975,000 after buying an additional 189,432 shares during the period. Ardevora Asset Management LLP acquired a new stake in shares of MercadoLibre during the second quarter valued at about $42,599,000. Whale Rock Capital Management LLC acquired a new stake in shares of MercadoLibre during the first quarter valued at about $30,322,000. Clearbridge Investments LLC raised its stake in shares of MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after buying an additional 114,824 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock valued at $119,167,000 after buying an additional 91,256 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MercadoLibre, Inc. (NASDAQ:MELI) opened at 240.16 on Friday. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The stock has a 50 day moving average price of $268.13 and a 200-day moving average price of $240.85. The company has a market capitalization of $10.60 billion, a PE ratio of 73.60 and a beta of 2.05.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million during the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. MercadoLibre’s revenue was up 58.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post $3.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 28th. MercadoLibre’s dividend payout ratio is currently 18.40%.
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Several equities research analysts have recently commented on the stock. Barclays PLC restated a “buy” rating and issued a $275.00 target price on shares of MercadoLibre in a research note on Sunday, May 7th. Credit Suisse Group boosted their target price on shares of MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of MercadoLibre from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and reduced their target price for the company from $309.00 to $290.00 in a research note on Tuesday, June 13th. Finally, J P Morgan Chase & Co downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $296.24 to $300.00 in a research note on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $261.69.
MercadoLibre Company Profile
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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