Public Employees Retirement Association of Colorado decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,133 shares of the company’s stock after selling 18 shares during the period. Public Employees Retirement Association of Colorado’s holdings in MercadoLibre were worth $79,654,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale increased its stake in MercadoLibre by 26.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 66,072 shares of the company’s stock valued at $103,986,000 after buying an additional 13,813 shares during the period. Polar Capital Holdings Plc boosted its holdings in MercadoLibre by 29.2% in the first quarter. Polar Capital Holdings Plc now owns 6,483 shares of the company’s stock worth $9,544,000 after purchasing an additional 1,467 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of MercadoLibre by 3.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 11,317 shares of the company’s stock valued at $17,630,000 after acquiring an additional 392 shares during the last quarter. Van ECK Associates Corp grew its holdings in MercadoLibre by 31.3% during the first quarter. Van ECK Associates Corp now owns 29,703 shares of the company’s stock valued at $43,727,000 after purchasing an additional 7,089 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in shares of MercadoLibre in the second quarter worth $43,250,000. 78.21% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of MercadoLibre from a “strong-buy” rating to a “hold” rating and set a $1,672.00 price target for the company. in a report on Wednesday, October 6th. Barclays raised their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Thursday, August 5th. DZ Bank started coverage on shares of MercadoLibre in a research note on Friday, July 9th. They issued a “buy” rating and a $1,900.00 target price on the stock. Credit Suisse Group restated a “buy” rating and set a $2,100.00 price target on shares of MercadoLibre in a research report on Friday, October 1st. Finally, BTIG Research raised their price objective on shares of MercadoLibre from $1,720.00 to $1,930.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $1,911.22.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 4th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.09 by $1.28. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.48 billion. MercadoLibre had a negative net margin of 0.02% and a positive return on equity of 5.55%. MercadoLibre’s revenue for the quarter was up 93.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. Equities analysts expect that MercadoLibre, Inc. will post 3.09 EPS for the current fiscal year.
In other news, Director Henrique Vasoncelos Dubugras acquired 845 shares of the stock in a transaction dated Wednesday, August 18th. The shares were bought at an average cost of $1,783.32 per share, for a total transaction of $1,506,905.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by insiders.
MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.
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