Cookson Peirce & Co. Inc. Buys 170 Shares of MercadoLibre, Inc. (MELI)
Cookson Peirce & Co. Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,750 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in MercadoLibre were worth $4,704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Crosslink Capital Inc. purchased a new stake in MercadoLibre during the 2nd quarter worth about $2,316,000. AXA increased its holdings 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 purchasing an additional 50,470 shares during the period. KBC Group NV increased its holdings in MercadoLibre by 54.2% during the 2nd quarter. KBC Group NV now owns 5,082 shares of the company’s stock worth $1,275,000 after purchasing an additional 1,786 shares during the period. Barings LLC purchased a new stake in MercadoLibre during the 1st quarter worth about $218,000. Finally, Westpac Banking Corp increased its holdings in MercadoLibre by 774.0% during the 2nd quarter. Westpac Banking Corp now owns 29,811 shares of the company’s stock worth $7,479,000 after purchasing an additional 26,400 shares during the period. Institutional investors own 85.84% of the company’s stock.
Several equities research analysts have weighed in on MELI shares. Susquehanna Bancshares Inc restated a “market perform” rating and set a $275.00 price target on shares of MercadoLibre in a report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $275.00 price target on shares of MercadoLibre in a report on Wednesday, October 4th. BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Citigroup Inc. upgraded MercadoLibre from a “sell” rating to a “buy” rating and upped their price target for the stock from $126.10 to $263.45 in a report on Monday, June 19th. Finally, Barclays PLC cut their price target on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, July 19th. Two research 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. The stock has a consensus rating of “Hold” and an average price target of $256.67.
MercadoLibre, Inc. (MELI) traded down 0.55% on Friday, hitting $244.90. The stock had a trading volume of 1,306,895 shares. The stock has a market cap of $10.81 billion, a P/E ratio of 75.05 and a beta of 2.03. MercadoLibre, Inc. has a one year low of $148.98 and a one year high of $297.95. The company’s 50-day moving average is $267.99 and its 200-day moving average is $260.19.
MercadoLibre (NASDAQ:MELI) last announced its earnings results 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 37.59% and a net margin of 13.37%. The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue was up 58.6% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post $2.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.
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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