Rathbone Brothers plc bought a new stake in Mercadolibre Inc (NASDAQ:MELI) during the first quarter, HoldingsChannel.com reports. The fund bought 420 shares of the company’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Mercadolibre in the 1st quarter valued at approximately $3,985,000. LPL Financial LLC grew its holdings in Mercadolibre by 4.6% in the 4th quarter. LPL Financial LLC now owns 7,485 shares of the company’s stock valued at $2,192,000 after buying an additional 328 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Mercadolibre in the 4th quarter valued at approximately $3,221,000. National Pension Service grew its holdings in Mercadolibre by 4.7% in the 4th quarter. National Pension Service now owns 54,721 shares of the company’s stock valued at $19,691,000 after buying an additional 2,452 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in Mercadolibre by 12.1% in the 4th quarter. Commonwealth Bank of Australia now owns 739 shares of the company’s stock valued at $214,000 after buying an additional 80 shares during the last quarter.
Shares of NASDAQ:MELI opened at $592.55 on Friday. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $596.70. The company has a market cap of $29.22 billion, a PE ratio of -722.62 and a beta of 2.14. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.34.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $423.19 million. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. Mercadolibre’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) EPS. Research analysts expect that Mercadolibre Inc will post 0.91 EPS for the current year.
Several brokerages have recently weighed in on MELI. BidaskClub lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “strong sell” rating in a report on Monday, February 4th. Bank of America reissued a “buy” rating and set a $600.00 price objective on shares of Mercadolibre in a report on Wednesday, April 3rd. HSBC lowered Mercadolibre from a “buy” rating to a “hold” rating and set a $512.99 price objective on the stock. in a report on Wednesday, April 10th. Finally, ValuEngine raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Mercadolibre has a consensus rating of “Buy” and an average target price of $481.07.
In related news, Director Emiliano Calemzuk bought 120 shares of the business’s stock in a transaction that occurred on Saturday, March 9th. The stock was acquired at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the transaction, the director now directly owns 2,669 shares of the company’s stock, valued at $1,105,339.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by company insiders.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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