Investec Asset Management LTD Has $678,000 Position in MercadoLibre, Inc. (MELI)
Investec Asset Management LTD increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 87.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,701 shares of the company’s stock after acquiring an additional 1,257 shares during the period. Investec Asset Management LTD’s holdings in MercadoLibre were worth $678,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MELI. Jennison Associates LLC grew its position in MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after acquiring an additional 245,213 shares during the period. Ardevora Asset Management LLP purchased a new position in MercadoLibre in the second quarter worth approximately $42,599,000. Whale Rock Capital Management LLC purchased a new position in MercadoLibre in the first quarter worth approximately $30,322,000. Acadian Asset Management LLC grew its position in MercadoLibre by 51.4% in the second quarter. Acadian Asset Management LLC now owns 350,678 shares of the company’s stock worth $87,975,000 after acquiring an additional 119,081 shares during the period. Finally, Clearbridge Investments LLC grew its position in MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after acquiring an additional 114,824 shares during the period. Institutional investors own 85.82% of the company’s stock.
Several research analysts recently weighed in on MELI shares. Susquehanna Bancshares Inc reiterated a “market perform” rating and issued a $275.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 1st. BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. upgraded MercadoLibre from a “sell” rating to a “buy” rating and increased their price objective for the stock from $126.10 to $263.45 in a research report on Monday, June 19th. Barclays PLC lowered their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. MercadoLibre currently has an average rating of “Hold” and a consensus target price of $261.69.
MercadoLibre, Inc. (NASDAQ:MELI) opened at 281.87 on Friday. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 86.38 and a beta of 2.04. The stock’s 50 day moving average price is $258.77 and its 200 day moving average price is $253.15. MercadoLibre, Inc. has a 52-week low of $148.98 and a 52-week high of $297.95.
MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The company had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post $3.01 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.21%. MercadoLibre’s dividend payout ratio is presently 18.40%.
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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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