Carmignac Gestion lowered its position in MercadoLibre SA (NASDAQ:MELI) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,231,452 shares of the company’s stock after selling 29,271 shares during the period. MercadoLibre SA comprises approximately 2.7% of Carmignac Gestion’s holdings, making the stock its 16th largest position. Carmignac Gestion owned about 0.05% of MercadoLibre SA worth $313,898,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Orbis Allan Gray Ltd acquired a new stake in MercadoLibre SA during the first quarter worth $70,045,000. Jericho Capital Asset Management L.P. acquired a new stake in MercadoLibre SA during the first quarter worth $52,059,000. BlackRock Inc. increased its stake in MercadoLibre SA by 1,649.1% in the first quarter. BlackRock Inc. now owns 8,116 shares of the company’s stock worth $956,000 after buying an additional 7,652 shares during the last quarter. State Street Corp increased its stake in MercadoLibre SA by 1.8% in the first quarter. State Street Corp now owns 29,227 shares of the company’s stock worth $3,445,000 after buying an additional 528 shares during the last quarter. Finally, Motley Fool Wealth Management LLC increased its stake in MercadoLibre SA by 2.7% in the first quarter. Motley Fool Wealth Management LLC now owns 43,784 shares of the company’s stock worth $5,160,000 after buying an additional 1,169 shares during the last quarter. Institutional investors own 74.01% of the company’s stock.
Shares of MercadoLibre SA (NASDAQ:MELI) traded down 1.99% on Thursday, hitting $183.74. 228,746 shares of the stock traded hands. MercadoLibre SA has a 52 week low of $84.19 and a 52 week high of $191.76. The stock has a 50-day moving average price of $175.52 and a 200 day moving average price of $144.24. The firm has a market cap of $8.11 billion, a P/E ratio of 62.07 and a beta of 2.17.
MercadoLibre SA (NASDAQ:MELI) last released its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.23. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The company had revenue of $199.60 million for the quarter, compared to the consensus estimate of $180.94 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. Equities research analysts predict that MercadoLibre SA will post $2.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.33%. The ex-dividend date is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio (DPR) is presently 20.34%.
A number of research firms have recently weighed in on MELI. JPMorgan Chase & Co. upgraded shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $173.68 to $200.00 in a research report on Friday, September 2nd. Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price objective on shares of MercadoLibre SA in a research report on Tuesday, August 30th. Finally, Goldman Sachs Group Inc. started coverage on shares of MercadoLibre SA in a research report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $150.29.
In related news, VP Pedro Arnt sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $168.27, for a total value of $504,810.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares of the company’s stock, valued at approximately $3,218,836.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $166.61, for a total transaction of $1,032,148.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
About MercadoLibre SA
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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