MercadoLibre, Inc. (MELI) Holdings Trimmed by Nationwide Fund Advisors
Nationwide Fund Advisors lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,484 shares of the company’s stock after selling 5,661 shares during the quarter. Nationwide Fund Advisors owned about 0.13% of MercadoLibre worth $14,672,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of MELI. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of MercadoLibre during the first quarter worth about $106,000. Pacer Advisors Inc. purchased a new position in shares of MercadoLibre during the second quarter worth about $146,000. Van ECK Associates Corp grew its holdings in shares of MercadoLibre by 7.3% during the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after purchasing an additional 50 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in shares of MercadoLibre during the second quarter worth about $226,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of MercadoLibre during the second quarter worth about $240,000. 85.82% of the stock is owned by institutional investors and hedge funds.
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Shares of MercadoLibre, Inc. (MELI) opened at 281.87 on Friday. 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 $12.45 billion, a price-to-earnings ratio of 86.38 and a beta of 2.04. The firm has a 50-day moving average price of $258.77 and a 200 day moving average price of $253.15.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.45). The firm had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. 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 earned $0.74 EPS. On average, analysts forecast that MercadoLibre, Inc. will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 28th. MercadoLibre’s dividend payout ratio is presently 18.40%.
MELI has been the subject of several recent analyst reports. Barclays PLC cut their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Susquehanna Bancshares Inc reissued a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a report on Tuesday, August 1st. Zacks Investment Research lowered MercadoLibre from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Credit Suisse Group reissued a “buy” rating and set a $290.00 price objective on shares of MercadoLibre in a report on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) lowered MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $309.00 to $290.00 in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. MercadoLibre currently has an average rating of “Hold” and an average price target of $261.69.
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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