MercadoLibre, Inc. (MELI) Position Raised by ARK Investment Management LLC
ARK Investment Management LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,870 shares of the company’s stock after purchasing an additional 1,384 shares during the quarter. ARK Investment Management LLC’s holdings in MercadoLibre were worth $4,232,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in MercadoLibre by 54.2% in the second quarter. KBC Group NV now owns 5,082 shares of the company’s stock valued at $1,275,000 after purchasing an additional 1,786 shares during the last quarter. FIL Ltd grew its stake in MercadoLibre by 14.3% in the first quarter. FIL Ltd now owns 34,716 shares of the company’s stock valued at $7,341,000 after acquiring an additional 4,347 shares during the period. Barings LLC acquired a new position in MercadoLibre in the first quarter valued at about $218,000. Westpac Banking Corp grew its stake in MercadoLibre by 774.0% in the second quarter. Westpac Banking Corp now owns 29,811 shares of the company’s stock valued at $7,479,000 after acquiring an additional 26,400 shares during the period. Finally, AXA grew its stake in MercadoLibre by 186.9% in the second quarter. AXA now owns 77,470 shares of the company’s stock valued at $19,436,000 after acquiring an additional 50,470 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.
A number of research firms have issued reports on MELI. BidaskClub cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $275.00 target price (up from $260.00) on shares of MercadoLibre in a research note on Wednesday, August 9th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $270.00 target price on shares of MercadoLibre in a research note on Wednesday, August 9th. Zacks Investment Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, Vetr raised MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 target price for the company in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. MercadoLibre currently has an average rating of “Hold” and an average price target of $261.69.
MercadoLibre, Inc. (NASDAQ:MELI) traded down 0.02% on Friday, hitting $281.80. The stock had a trading volume of 118,724 shares. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The company has a 50-day moving average price of $258.77 and a 200-day moving average price of $253.15. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 86.36 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The firm had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 58.6% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.
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).
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI).
Receive News & Ratings for MercadoLibre Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.