Fisher Asset Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 58.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,734 shares of the company’s stock after buying an additional 1,372 shares during the period. Fisher Asset Management LLC’s holdings in MercadoLibre were worth $937,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Orbis Allan Gray Ltd raised its stake in MercadoLibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock worth $212,407,000 after buying an additional 697,057 shares during the period. Clearbridge Investments LLC raised its stake in MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after buying an additional 114,824 shares during the period. William Blair Investment Management LLC raised its stake in MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock worth $119,167,000 after buying an additional 91,256 shares during the period. Harding Loevner LP raised its stake in MercadoLibre by 2.5% in the first quarter. Harding Loevner LP now owns 550,380 shares of the company’s stock worth $116,389,000 after buying an additional 13,200 shares during the period. Finally, OppenheimerFunds Inc. raised its position in shares of MercadoLibre by 5.3% in the first quarter. OppenheimerFunds Inc. now owns 347,000 shares of the company’s stock valued at $73,380,000 after buying an additional 17,320 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.
Shares of MercadoLibre, Inc. (MELI) traded up 0.83% on Friday, reaching $236.14. The company’s stock had a trading volume of 672,753 shares. The stock has a market capitalization of $10.43 billion, a PE ratio of 72.37 and a beta of 2.05. The stock has a 50-day moving average of $264.92 and a 200 day moving average of $242.39. MercadoLibre, Inc. has a 1-year low of $148.98 and a 1-year high of $297.95.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The firm had revenue of $316.53 million for the quarter, compared to the consensus estimate of $312.16 million. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post $3.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s dividend payout ratio (DPR) is 18.40%.
Several research firms have recently commented on MELI. Citigroup Inc. upgraded MercadoLibre from a “sell” rating to a “buy” rating and increased their price objective for the company from $126.10 to $263.45 in a research note on Monday, June 19th. Barclays PLC reiterated a “buy” rating and issued a $275.00 price objective on shares of MercadoLibre in a research note on Sunday, May 7th. Bank of America Corporation increased their price objective on MercadoLibre from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Credit Suisse Group restated a “buy” rating and issued a $290.00 price target on shares of MercadoLibre in a research note on Friday, July 7th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $287.00 price target on shares of MercadoLibre in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. MercadoLibre currently has a consensus rating of “Hold” and a consensus target price of $261.69.
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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