Cabot Wealth Management Inc. Decreases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Cabot Wealth Management Inc. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,935 shares of the company’s stock after selling 1,859 shares during the period. Cabot Wealth Management Inc.’s holdings in MercadoLibre were worth $2,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Wedbush Securities Inc. boosted its position in shares of MercadoLibre by 0.5% in the first quarter. Wedbush Securities Inc. now owns 3,125 shares of the company’s stock valued at $661,000 after buying an additional 16 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of MercadoLibre by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,060 shares of the company’s stock valued at $210,000 after buying an additional 31 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of MercadoLibre by 7.3% in the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after buying an additional 50 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of MercadoLibre by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock valued at $486,000 after buying an additional 100 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of MercadoLibre by 3.0% in the first quarter. Perigon Wealth Management LLC now owns 3,979 shares of the company’s stock valued at $842,000 after buying an additional 115 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

MercadoLibre, Inc. (MELI) traded up 0.83% during trading on Friday, reaching $236.14. The company’s stock had a trading volume of 672,753 shares. 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 $10.43 billion, a PE ratio of 72.37 and a beta of 2.05. The company has a 50 day moving average price of $264.45 and a 200-day moving average price of $242.76.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share 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 firm had revenue of $316.53 million during the quarter, compared to analyst estimates of $312.16 million. During the same quarter in the previous year, the business posted $0.74 EPS. MercadoLibre’s revenue was up 58.6% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post $3.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 28th. MercadoLibre’s payout ratio is currently 18.40%.

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Several research analysts recently weighed in on the company. Credit Suisse Group lifted their price target on MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $275.00 price objective (up from $213.00) on shares of MercadoLibre in a report on Tuesday, May 9th. BidaskClub lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $270.00 price objective on shares of MercadoLibre in a report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) lowered MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $309.00 to $290.00 in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. MercadoLibre currently has an average rating of “Hold” and an average target price of $261.69.

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).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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