Perigon Wealth Management LLC Has $796,000 Stake in MercadoLibre, Inc. (MELI)
Perigon Wealth Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,169 shares of the company’s stock after selling 810 shares during the quarter. Perigon Wealth Management LLC’s holdings in MercadoLibre were worth $796,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd boosted its stake in shares of MercadoLibre by 10.2% during the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock valued at $399,304,000 after purchasing an additional 146,891 shares during the period. Koch Industries Inc. boosted its stake in shares of MercadoLibre by 85,458.8% during the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock valued at $962,000 after purchasing an additional 964,830 shares during the period. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 45.9% during the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after purchasing an additional 245,213 shares during the period. Clearbridge Investments LLC boosted its stake in shares of MercadoLibre by 25.2% during the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after purchasing an additional 114,824 shares during the period. Finally, Harding Loevner LP boosted its stake in shares of MercadoLibre by 1.7% during the second quarter. Harding Loevner LP now owns 559,944 shares of the company’s stock valued at $140,479,000 after purchasing an additional 9,564 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.
Shares of MercadoLibre, Inc. (NASDAQ MELI) traded down 0.11% during trading on Friday, hitting $235.73. The company had a trading volume of 782,966 shares. The stock’s 50-day moving average price is $265.86 and its 200 day moving average price is $260.63. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The company has a market capitalization of $10.41 billion, a P/E ratio of 72.24 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data 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 net margin of 13.37% and a return on equity of 37.59%. The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same quarter in the previous year, the firm earned $0.74 EPS. MercadoLibre’s revenue was up 58.6% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post $2.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, September 28th. MercadoLibre’s payout ratio is currently 18.40%.
A number of analysts have recently weighed in on MELI shares. KeyCorp reissued a “buy” rating and set a $290.00 price objective on shares of MercadoLibre in a research note on Tuesday. Susquehanna Bancshares Inc reissued a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $275.00 price objective on shares of MercadoLibre in a research note on Wednesday, October 4th. BidaskClub raised MercadoLibre from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Barclays PLC dropped their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. MercadoLibre has an average rating of “Hold” and a consensus target price of $259.05.
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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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