Bank of New York Mellon Corp lowered its position in MercadoLibre SA (NASDAQ:MELI) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 10,628 shares of the company’s stock after selling 239 shares during the period. Bank of New York Mellon Corp’s holdings in MercadoLibre SA were worth $1,496,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its position in shares of MercadoLibre SA by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock worth $158,000 after buying an additional 175 shares in the last quarter. Telemus Capital LLC purchased a new stake in MercadoLibre SA during the second quarter valued at $216,000. Avalon Advisors LLC purchased a new stake in MercadoLibre SA during the first quarter valued at $201,000. Mariner Wealth Advisors LLC purchased a new stake in MercadoLibre SA during the first quarter valued at $205,000. Finally, Loomis Sayles & Co. L P raised its stake in MercadoLibre SA by 99.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,959 shares of the company’s stock valued at $231,000 after buying an additional 975 shares during the period. 74.01% of the stock is currently owned by hedge funds and other institutional investors.
MercadoLibre SA (NASDAQ:MELI) traded up 0.41% during trading on Monday, reaching $190.60. The company had a trading volume of 241,569 shares. MercadoLibre SA has a 12 month low of $84.19 and a 12 month high of $193.58. The stock has a 50 day moving average price of $178.98 and a 200 day moving average price of $147.61. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 64.39 and a beta of 2.08.
MercadoLibre SA (NASDAQ:MELI) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.23. The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, equities research analysts predict that MercadoLibre SA will post $2.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.32%. The ex-dividend date is Wednesday, September 28th. MercadoLibre SA’s payout ratio is currently 20.34%.
Several research firms have weighed in on MELI. Piper Jaffray Cos. upped their target price on MercadoLibre SA from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Stifel Nicolaus upped their target price on MercadoLibre SA from $150.00 to $180.00 and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research raised MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price on the stock in a report on Wednesday, October 5th. Goldman Sachs Group Inc. began coverage on MercadoLibre SA in a report on Tuesday, August 9th. They issued a “neutral” rating and a $170.00 target price on the stock. Finally, JPMorgan Chase & Co. raised MercadoLibre SA from a “neutral” rating to an “overweight” rating and upped their target price for the company from $173.68 to $200.00 in a report on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $162.88.
In other news, Director A Michael Spence sold 3,451 shares of MercadoLibre SA stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the transaction, the director now directly owns 6,903 shares in the company, valued at approximately $1,166,399.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Rabinovich sold 6,195 shares of MercadoLibre SA stock in a transaction on Friday, August 19th. The shares were sold at an average price of $166.61, for a total value of $1,032,148.95. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
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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