MercadoLibre, Inc. (MELI) Shares Sold by Standard Life Investments LTD
Standard Life Investments LTD decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 62.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,571 shares of the company’s stock after selling 37,636 shares during the period. Standard Life Investments LTD owned 0.05% of MercadoLibre worth $5,663,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC lifted its position in MercadoLibre by 22.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 7,491 shares of the company’s stock worth $1,879,000 after acquiring an additional 1,390 shares during the last quarter. Seven Eight Capital LP lifted its position in MercadoLibre by 279.6% during the 2nd quarter. Seven Eight Capital LP now owns 9,504 shares of the company’s stock worth $2,384,000 after acquiring an additional 7,000 shares during the last quarter. Alliancebernstein L.P. lifted its position in MercadoLibre by 48.6% during the 2nd quarter. Alliancebernstein L.P. now owns 25,804 shares of the company’s stock worth $6,474,000 after acquiring an additional 8,444 shares during the last quarter. AXA lifted its position in MercadoLibre by 186.9% during the 2nd quarter. AXA now owns 77,470 shares of the company’s stock worth $19,436,000 after acquiring an additional 50,470 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in MercadoLibre by 418.7% during the 2nd quarter. Motley Fool Asset Management LLC now owns 25,937 shares of the company’s stock worth $6,507,000 after acquiring an additional 20,937 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre, Inc. (MELI) traded down 0.80% on Friday, hitting $285.63. 112,498 shares of the stock traded hands. The firm’s 50 day moving average is $258.82 and its 200 day moving average is $250.89. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 87.54 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.45). The company had revenue of $316.53 million for 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%. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post $3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s dividend payout ratio is presently 18.40%.
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A number of research analysts have weighed in on the stock. Bank of America Corporation boosted their target price on shares of MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. BidaskClub raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a research report on Friday, June 23rd. Credit Suisse Group reissued a “buy” rating and set a $290.00 target price on shares of MercadoLibre in a research report on Friday, July 7th. Finally, Barclays PLC cut their target price on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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