MercadoLibre, Inc. (MELI) Holdings Increased by Light Street Capital Management LLC
Light Street Capital Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 25.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,000 shares of the company’s stock after acquiring an additional 45,000 shares during the period. MercadoLibre makes up approximately 3.9% of Light Street Capital Management LLC’s portfolio, making the stock its 7th biggest position. Light Street Capital Management LLC owned approximately 0.50% of MercadoLibre worth $55,194,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of MercadoLibre by 45.9% during 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 in the last quarter. Renaissance Technologies LLC grew its stake in shares of MercadoLibre by 246.4% in the 2nd quarter. Renaissance Technologies LLC now owns 311,800 shares of the company’s stock valued at $78,224,000 after buying an additional 221,800 shares during the period. Ardevora Asset Management LLP acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $42,599,000. Whale Rock Capital Management LLC acquired a new stake in shares of MercadoLibre in the 1st quarter valued at about $30,322,000. Finally, Nordea Investment Management AB grew its stake in shares of MercadoLibre by 10,991.2% in the 2nd quarter. Nordea Investment Management AB now owns 129,989 shares of the company’s stock valued at $32,612,000 after buying an additional 128,817 shares during the period. 85.84% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre, Inc. (NASDAQ MELI) traded up 2.1014% on Monday, hitting $264.3712. 281,367 shares of the stock were exchanged. The company has a 50-day moving average of $258.77 and a 200-day moving average of $253.16. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 81.0209 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last announced its 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). The firm had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post $3.01 EPS for the current 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. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s dividend payout ratio is presently 18.40%.
A number of research analysts recently weighed in on MELI shares. Susquehanna Bancshares Inc reaffirmed a “market perform” rating and set a $275.00 price target on shares of MercadoLibre in a research note on Tuesday, August 1st. Barclays PLC reduced their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. Citigroup Inc. downgraded MercadoLibre from a “buy” rating to a “neutral” rating and set a $280.00 price objective for the company. in a report on Friday, June 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $287.00 target price on shares of MercadoLibre in a research report on Thursday, July 13th. Finally, BidaskClub raised MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $261.69.
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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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