New York State Common Retirement Fund decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 68.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,278 shares of the company’s stock after selling 69,008 shares during the quarter. New York State Common Retirement Fund owned 0.07% of MercadoLibre worth $7,847,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 45.9% in the 2nd quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after purchasing an additional 245,213 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of MercadoLibre by 25.2% in the 1st quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after purchasing an additional 114,824 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of MercadoLibre by 51.4% in the 2nd quarter. Acadian Asset Management LLC now owns 350,678 shares of the company’s stock worth $87,975,000 after purchasing an additional 119,081 shares during the last quarter. State Street Corp grew its holdings in shares of MercadoLibre by 11.7% in the 1st quarter. State Street Corp now owns 274,580 shares of the company’s stock worth $58,057,000 after purchasing an additional 28,727 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of MercadoLibre by 22.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 238,407 shares of the company’s stock worth $59,812,000 after purchasing an additional 43,426 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.
MELI has been the topic of several analyst reports. BidaskClub lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $309.00 to $290.00 in a report on Tuesday, June 13th. Vetr raised shares of MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 target price on the stock in a report on Monday, August 7th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $287.00 target price on shares of MercadoLibre in a report on Thursday, July 13th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $270.00 target price on shares of MercadoLibre in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $260.13.
MercadoLibre, Inc. (MELI) opened at 273.64 on Wednesday. The company’s 50-day moving average is $266.37 and its 200 day moving average is $259.59. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The firm has a market cap of $12.08 billion, a P/E ratio of 83.86 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) 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 business had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue was up 58.6% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post $2.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s dividend payout ratio is presently 18.40%.
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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