Mercadolibre Inc (MELI) Stake Lifted by Commonwealth Bank of Australia
Commonwealth Bank of Australia lifted its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 278.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,282 shares of the company’s stock after acquiring an additional 943 shares during the quarter. Commonwealth Bank of Australia’s holdings in Mercadolibre were worth $329,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Orbis Allan Gray Ltd grew its position in Mercadolibre by 10.2% during the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after buying an additional 146,891 shares during the period. Ameriprise Financial Inc. grew its position in Mercadolibre by 14.0% during the third quarter. Ameriprise Financial Inc. now owns 1,029,446 shares of the company’s stock worth $266,559,000 after buying an additional 126,452 shares during the period. Koch Industries Inc. grew its position in Mercadolibre by 85,458.8% during the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after buying an additional 964,830 shares during the period. Jennison Associates LLC grew its position in Mercadolibre by 45.9% during the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after buying an additional 245,213 shares during the period. Finally, Harding Loevner LP grew its position in Mercadolibre by 1.7% during the second quarter. Harding Loevner LP now owns 559,944 shares of the company’s stock worth $140,479,000 after buying an additional 9,564 shares during the period. Institutional investors and hedge funds own 89.60% of the company’s stock.
Mercadolibre Inc (MELI) opened at $272.68 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 $12,020.07, a P/E ratio of 77.77, a P/E/G ratio of 4.49 and a beta of 2.05. Mercadolibre Inc has a one year low of $150.29 and a one year high of $297.95.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The business 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 company’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. research analysts forecast that Mercadolibre Inc will post 2.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Sunday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, December 28th. Mercadolibre’s payout ratio is 19.93%.
Several research analysts have weighed in on the stock. Credit Suisse Group upped their target price on shares of Mercadolibre from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Susquehanna Bancshares lowered their price target on shares of Mercadolibre from $275.00 to $230.00 in a research report on Friday, October 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $268.00 price target on shares of Mercadolibre in a research report on Monday, October 23rd. KeyCorp reiterated a “buy” rating and issued a $290.00 price target on shares of Mercadolibre in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $275.00 price target on shares of Mercadolibre in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Mercadolibre currently has an average rating of “Buy” and a consensus price target of $271.21.
In other news, Director Alejandro Nicolas Aguzin acquired 10,000 shares of Mercadolibre stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average price of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,744,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.36% of the company’s stock.
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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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