Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,083 shares of the company’s stock after selling 625 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of Mercadolibre worth $23,066,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MELI. Commonwealth Bank of Australia lifted its position in shares of Mercadolibre by 278.2% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,282 shares of the company’s stock valued at $329,000 after acquiring an additional 943 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Mercadolibre by 294.2% in the 3rd quarter. Legal & General Group Plc now owns 167,348 shares of the company’s stock valued at $43,332,000 after acquiring an additional 124,892 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Mercadolibre by 72.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 22,217 shares of the company’s stock valued at $5,811,000 after acquiring an additional 9,330 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Mercadolibre by 58.4% in the 3rd quarter. Nordea Investment Management AB now owns 205,958 shares of the company’s stock valued at $53,329,000 after acquiring an additional 75,969 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Mercadolibre in the 3rd quarter valued at approximately $9,166,000. Hedge funds and other institutional investors own 89.60% of the company’s stock.
Several equities research analysts recently commented on MELI shares. KeyCorp restated a “buy” rating and issued a $290.00 price target on shares of Mercadolibre in a research report on Tuesday, October 17th. Credit Suisse Group upped their price target on shares of Mercadolibre from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Stifel Nicolaus restated a “buy” rating and issued a $275.00 price target on shares of Mercadolibre in a research report on Wednesday, October 4th. Barclays cut their target price on shares of Mercadolibre from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $268.00 target price on shares of Mercadolibre in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $271.21.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. Mercadolibre had a net margin of 10.91% and a return on equity of 34.78%. The company had revenue of $370.66 million during the quarter, compared to the consensus estimate of $347.29 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue was up 60.6% compared to the same quarter last year. equities analysts expect that Mercadolibre Inc will post 2.42 earnings per share for the current year.
The firm 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. The ex-dividend date is Thursday, December 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.22%. Mercadolibre’s dividend payout ratio is currently 19.93%.
In other Mercadolibre news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were acquired at an average price of $274.47 per share, for a total transaction of $2,744,700.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,744,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.36% of the stock is currently owned by company insiders.
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Mercadolibre Company Profile
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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