Norges Bank acquired a new stake in shares of Mercadolibre Inc (NASDAQ:MELI) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 236,869 shares of the company’s stock, valued at approximately $36,985,000.
Several other institutional investors have also made changes to their positions in the stock. Ashford Capital Management Inc. boosted its stake in shares of Mercadolibre by 0.4% in the third quarter. Ashford Capital Management Inc. now owns 2,260 shares of the company’s stock valued at $418,000 after buying an additional 10 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mercadolibre by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,149 shares of the company’s stock valued at $336,000 after buying an additional 11 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Mercadolibre by 0.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 6,865 shares of the company’s stock valued at $1,072,000 after buying an additional 50 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Mercadolibre by 0.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 10,313 shares of the company’s stock valued at $1,610,000 after buying an additional 60 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in shares of Mercadolibre by 0.8% in the fourth quarter. TCW Group Inc. now owns 12,610 shares of the company’s stock valued at $1,969,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of Mercadolibre Inc (NASDAQ:MELI) opened at 210.86 on Monday. The company has a 50 day moving average price of $204.70 and a 200-day moving average price of $179.49. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 68.28 and a beta of 2.17. Mercadolibre Inc has a one year low of $112.07 and a one year high of $218.75.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. Mercadolibre had a net margin of 16.13% and a return on equity of 38.86%. The business had revenue of $256.30 million for the quarter, compared to analyst estimates of $249.16 million. During the same period in the previous year, the business posted $0.88 earnings per share. The business’s revenue was up 41.8% compared to the same quarter last year. Equities analysts predict that Mercadolibre Inc will post $4.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. Mercadolibre’s dividend payout ratio (DPR) is 21.43%.
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Several brokerages have weighed in on MELI. Zacks Investment Research cut Mercadolibre from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Stifel Nicolaus boosted their price objective on Mercadolibre from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, February 24th. Susquehanna Bancshares Inc cut Mercadolibre from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $191.00 to $170.00 in a research note on Monday, December 5th. Cowen and Company boosted their price objective on Mercadolibre from $192.00 to $211.00 and gave the stock a “market perform” rating in a research note on Friday, February 24th. Finally, Goldman Sachs Group Inc raised Mercadolibre from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $202.50.
In other news, VP Stelleo Tolda sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $211.00, for a total transaction of $422,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.
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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