Sigma Investment Counselors Inc. Has $376,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)
Sigma Investment Counselors Inc. held its stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The firm owned 1,500 shares of the company’s stock at the end of the second quarter. Sigma Investment Counselors Inc.’s holdings in MercadoLibre were worth $376,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in MercadoLibre by 3.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the company’s stock worth $1,277,000 after buying an additional 176 shares during the last quarter. Cookson Peirce & Co. Inc. raised its stake in MercadoLibre by 6.5% in the first quarter. Cookson Peirce & Co. Inc. now owns 18,580 shares of the company’s stock worth $3,929,000 after buying an additional 1,130 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in MercadoLibre by 14.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,196 shares of the company’s stock worth $675,000 after buying an additional 410 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in MercadoLibre by 20.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,000 shares of the company’s stock worth $634,000 after buying an additional 500 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in MercadoLibre during the first quarter worth $169,000. Institutional investors and hedge funds own 92.15% of the company’s stock.
MercadoLibre, Inc. (MELI) opened at 251.52 on Thursday. The stock’s 50 day moving average price is $270.41 and its 200 day moving average price is $240.46. MercadoLibre, Inc. has a 52 week low of $148.98 and a 52 week high of $297.95. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 71.82 and a beta of 2.05.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The firm had revenue of $316.53 million for the quarter, compared to analyst estimates of $312.16 million. During the same period in the previous year, the company posted $0.74 EPS. MercadoLibre’s revenue was up 58.6% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post $3.74 earnings per share for the current 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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.
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A number of research firms have weighed in on MELI. J P Morgan Chase & Co lowered MercadoLibre from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $296.24 to $300.00 in a research note on Tuesday, May 16th. Bank of America Corporation increased their target price on MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Susquehanna Bancshares Inc reiterated a “market perform” rating and issued a $275.00 target price on shares of MercadoLibre in a research note on Tuesday, August 1st. Credit Suisse Group increased their target price on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Barclays PLC reduced their target price on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $261.69.
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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