Rhumbline Advisers Has $893,000 Stake in Mercadolibre Inc (MELI)
Rhumbline Advisers grew its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 30.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,449 shares of the company’s stock after acquiring an additional 809 shares during the period. Rhumbline Advisers’ holdings in Mercadolibre were worth $893,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Mercadolibre by 33.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,874 shares of the company’s stock worth $608,000 after buying an additional 725 shares during the period. Aperio Group LLC increased its position in shares of Mercadolibre by 53.0% during the second quarter. Aperio Group LLC now owns 2,420 shares of the company’s stock worth $607,000 after buying an additional 838 shares during the period. Strs Ohio increased its position in shares of Mercadolibre by 361.1% during the second quarter. Strs Ohio now owns 2,536 shares of the company’s stock worth $636,000 after buying an additional 1,986 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Mercadolibre during the second quarter worth $347,000. Finally, Pictet Asset Management Ltd. increased its position in shares of Mercadolibre by 4.5% during the second quarter. Pictet Asset Management Ltd. now owns 13,900 shares of the company’s stock worth $3,824,000 after buying an additional 600 shares during the period. 89.60% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on MELI shares. KeyCorp reiterated a “buy” rating and set a $290.00 price objective on shares of Mercadolibre in a research report on Tuesday, October 17th. Credit Suisse Group increased their price objective on shares of Mercadolibre from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 price objective on shares of Mercadolibre in a research report on Wednesday, October 4th. Barclays decreased their price objective on shares of Mercadolibre from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $268.00 price objective on shares of Mercadolibre in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $275.98.
In related news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of Mercadolibre stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $274.47 per share, for a total transaction of $2,744,700.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,744,700. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.
Shares of Mercadolibre Inc (NASDAQ MELI) opened at $321.01 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76. The company has a market cap of $14,083.55, a price-to-earnings ratio of 91.13, a price-to-earnings-growth ratio of 5.26 and a beta of 2.05. Mercadolibre Inc has a twelve month low of $150.29 and a twelve month high of $329.00.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $370.66 million during the quarter, compared to analysts’ expectations of $347.29 million. Mercadolibre had a net margin of 10.91% and a return on equity of 34.78%. The business’s quarterly revenue was up 60.6% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. equities analysts predict that Mercadolibre Inc will post 2.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Thursday, December 28th. Mercadolibre’s payout ratio is 19.93%.
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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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