Dupont Capital Management Corp purchased a new position in shares of Mercadolibre Inc (NASDAQ:MELI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 690 shares of the company’s stock, valued at approximately $680,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Engrave Wealth Partners LLC increased its position in Mercadolibre by 121.4% during the second quarter. Engrave Wealth Partners LLC now owns 31 shares of the company’s stock worth $30,000 after buying an additional 17 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Mercadolibre during the second quarter worth approximately $33,000. Whittier Trust Co. acquired a new position in Mercadolibre during the second quarter worth approximately $35,000. Kistler Tiffany Companies LLC acquired a new position in shares of Mercadolibre in the second quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Mercadolibre in the second quarter valued at approximately $54,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ MELI opened at $1,124.62 on Friday. The business has a fifty day moving average price of $981.92 and a two-hundred day moving average price of $736.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.23 and a quick ratio of 2.22. Mercadolibre Inc has a fifty-two week low of $422.22 and a fifty-two week high of $1,150.82. The stock has a market capitalization of $55.90 billion, a PE ratio of -267.77 and a beta of 1.70.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Tuesday, May 5th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.04. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. The firm had revenue of $652.09 million during the quarter, compared to analysts’ expectations of $609.27 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 37.6% on a year-over-year basis. As a group, sell-side analysts expect that Mercadolibre Inc will post -0.95 earnings per share for the current year.
MELI has been the topic of several research reports. TheStreet raised Mercadolibre from a “d+” rating to a “c-” rating in a research report on Wednesday, May 13th. Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 6th. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $846.00 target price on the stock in a research report on Wednesday, May 20th. Susquehanna Bancshares downgraded Mercadolibre from a “positive” rating to a “neutral” rating and set a $630.00 target price on the stock. in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on Mercadolibre from $800.00 to $1,000.00 in a research report on Wednesday, May 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $827.40.
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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