MercadoLibre SA (MELI) Trading Up 1.5% on Analyst Upgrade
Shares of MercadoLibre SA (NASDAQ:MELI) traded up 1.5% during mid-day trading on Friday after Stifel Nicolaus raised their price target on the stock from $150.00 to $180.00. Stifel Nicolaus currently has a hold rating on the stock. MercadoLibre SA traded as high as $190.15 and last traded at $189.12, with a volume of 202,743 shares trading hands. The stock had previously closed at $186.29.
MELI has been the subject of a number of other reports. Piper Jaffray Cos. boosted their target price on shares of MercadoLibre SA from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Goldman Sachs Group Inc. assumed coverage on shares of MercadoLibre SA in a research note on Tuesday, August 9th. They set a “neutral” rating and a $170.00 target price for the company. Zacks Investment Research raised shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $173.68 to $200.00 in a research note on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $162.88.
In other MercadoLibre SA news, Director A Michael Spence sold 3,451 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $168.97, for a total value of $583,115.47. Following the completion of the transaction, the director now directly owns 6,903 shares in the company, valued at $1,166,399.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Rabinovich sold 6,195 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $166.61, for a total transaction of $1,032,148.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
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A number of institutional investors have recently made changes to their positions in the company. Pillar Pacific Capital Management LLC increased its position in shares of MercadoLibre SA by 0.4% in the second quarter. Pillar Pacific Capital Management LLC now owns 2,715 shares of the company’s stock worth $382,000 after buying an additional 10 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of MercadoLibre SA by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,109 shares of the company’s stock worth $437,000 after buying an additional 39 shares in the last quarter. IFP Advisors Inc increased its position in shares of MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 shares in the last quarter. Zacks Investment Management increased its position in shares of MercadoLibre SA by 3.0% in the second quarter. Zacks Investment Management now owns 2,575 shares of the company’s stock worth $362,000 after buying an additional 74 shares in the last quarter. Finally, Creative Planning increased its position in shares of MercadoLibre SA by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock worth $158,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.
The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 64.10 and a beta of 2.08. The company has a 50-day moving average price of $178.34 and a 200 day moving average price of $147.07.
MercadoLibre SA (NASDAQ:MELI) last issued its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.23. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The company earned $199.60 million during the quarter, compared to analyst estimates of $180.94 million. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. Analysts predict that MercadoLibre SA will post $2.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Wednesday, September 28th. MercadoLibre SA’s payout ratio is 20.34%.
About MercadoLibre SA
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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