SG Americas Securities LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 78.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,689 shares of the company’s stock after selling 9,508 shares during the quarter. SG Americas Securities LLC’s holdings in MercadoLibre were worth $675,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD raised its holdings in MercadoLibre by 14.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,196 shares of the company’s stock valued at $675,000 after buying an additional 410 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in MercadoLibre by 3.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the company’s stock valued at $1,277,000 after buying an additional 176 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in MercadoLibre by 5.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 13,009 shares of the company’s stock valued at $2,748,000 after buying an additional 654 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in MercadoLibre by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 116,351 shares of the company’s stock valued at $24,605,000 after buying an additional 2,356 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in MercadoLibre by 4.5% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.
MELI has been the subject of a number of recent analyst reports. Susquehanna Bancshares Inc reiterated a “market perform” rating and set a $275.00 price target on shares of MercadoLibre in a report on Tuesday, August 1st. BidaskClub raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. raised shares of MercadoLibre from a “sell” rating to a “buy” rating and boosted their price objective for the company from $126.10 to $263.45 in a research report on Monday, June 19th. Barclays PLC reduced their price objective on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. MercadoLibre currently has an average rating of “Hold” and an average target price of $261.69.
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MercadoLibre, Inc. (MELI) opened at 259.98 on Friday. The firm’s 50-day moving average is $258.01 and its 200 day moving average is $248.39. MercadoLibre, Inc. has a 1-year low of $148.98 and a 1-year high of $297.95. The company has a market cap of $11.48 billion, a PE ratio of 79.68 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last issued its quarterly 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 return on equity of 37.59% and a net margin of 13.37%. The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same quarter in the previous year, the firm posted $0.74 EPS. MercadoLibre’s revenue was up 58.6% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post $3.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.23%. MercadoLibre’s payout ratio is 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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