Mercadolibre Inc (MELI) Position Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 48.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,680 shares of the company’s stock after purchasing an additional 5,412 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Mercadolibre were worth $4,319,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Smithfield Trust Co. grew its position in Mercadolibre by 1,025.0% during the 3rd quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock valued at $116,000 after purchasing an additional 410 shares during the last quarter. Toronto Dominion Bank grew its position in Mercadolibre by 18.4% during the 2nd quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after purchasing an additional 80 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Mercadolibre during the 2nd quarter valued at about $146,000. Ameritas Investment Partners Inc. purchased a new stake in Mercadolibre during the 2nd quarter valued at about $198,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Mercadolibre during the 3rd quarter valued at about $213,000. 89.60% of the stock is currently owned by institutional investors.
In other Mercadolibre news, Director Alejandro Nicolas Aguzin acquired 10,000 shares of the stock in a transaction dated Monday, November 27th. The shares were purchased at an average price of $274.47 per share, for a total transaction of $2,744,700.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,744,700. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is owned by corporate insiders.
Shares of Mercadolibre Inc (NASDAQ MELI) opened at $321.01 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.44. The stock has a market cap of $14,083.55, a PE ratio of 91.13, a PEG ratio of 5.26 and a beta of 2.05. Mercadolibre Inc has a 1-year low of $150.29 and a 1-year high of $329.00.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The firm had revenue of $370.66 million for the quarter, compared to the consensus estimate of $347.29 million. Mercadolibre had a net margin of 10.91% and a return on equity of 34.78%. The business’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. sell-side analysts forecast that Mercadolibre Inc will post 2.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, December 28th. Mercadolibre’s payout ratio is presently 19.93%.
Several analysts recently commented on MELI shares. Susquehanna Bancshares cut their price objective on shares of Mercadolibre from $275.00 to $230.00 in a research report on Friday, October 13th. Stifel Nicolaus raised shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $275.00 price objective on the stock in a research report on Friday, August 25th. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $268.00 price target on shares of Mercadolibre in a report on Monday, October 23rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $290.00 price target on shares of Mercadolibre in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Mercadolibre presently has an average rating of “Buy” and an average price target of $275.98.
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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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