Foxhaven Asset Management LP Takes $30.93 Million Position in MercadoLibre, Inc. (MELI)
Foxhaven Asset Management LP bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 123,295 shares of the company’s stock, valued at approximately $30,932,000. MercadoLibre comprises approximately 2.2% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 18th largest holding. Foxhaven Asset Management LP owned 0.28% of MercadoLibre at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MELI. Orbis Allan Gray Ltd raised its position in shares of MercadoLibre by 10.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after acquiring an additional 146,891 shares in the last quarter. Jennison Associates LLC grew its stake in shares of MercadoLibre by 45.9% in the 2nd quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after buying an additional 245,213 shares during the period. Clearbridge Investments LLC grew its stake in shares of MercadoLibre by 25.2% in the 1st quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after buying an additional 114,824 shares during the period. Harding Loevner LP grew its stake in shares of MercadoLibre by 1.7% in the 2nd quarter. Harding Loevner LP now owns 559,944 shares of the company’s stock valued at $140,479,000 after buying an additional 9,564 shares during the period. Finally, Capital World Investors grew its stake in shares of MercadoLibre by 48.6% in the 2nd quarter. Capital World Investors now owns 353,763 shares of the company’s stock valued at $88,752,000 after buying an additional 115,663 shares during the period. 85.84% of the stock is owned by institutional investors and hedge funds.
MELI has been the topic of several recent analyst reports. BidaskClub cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $309.00 to $290.00 in a research 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 research report on Monday, August 7th. Piper Jaffray Companies reissued a “buy” rating and set a $287.00 target price on shares of MercadoLibre in a research report on Thursday, July 13th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $270.00 target price on shares of MercadoLibre in a research report on Wednesday, August 9th. Two 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 assigned a strong buy rating to the stock. MercadoLibre presently has a consensus rating of “Hold” and an average price target of $260.13.
MercadoLibre, Inc. (NASDAQ MELI) traded down 0.52% on Friday, hitting $268.82. 427,680 shares of the stock were exchanged. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The company has a 50-day moving average of $264.50 and a 200 day moving average of $257.96. The firm has a market cap of $11.87 billion, a P/E ratio of 82.38 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). The firm had revenue of $316.53 million for the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post $2.97 earnings per share for the current fiscal year.
The company 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. The ex-dividend date is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. 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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