Commerce Bank Trims MercadoLibre Holdings
Commerce Bank, a financial institution based in the U.S, recently sold 20.2% of its holdings in MercadoLibre, Inc. (NASDAQ:MELI), according to its recent Form 13F filing with the United States Securities and Exchange Commission (SEC). The bank’s shares of the company dropped from 956 to 763 during the fourth quarter of the fiscal year, amounting to a reduction of 193 shares worth approximately $646,000.
MercadoLibre, which operates an online commerce platform focusing on e-commerce and related services, recently released its earnings report for May 3rd. It recorded adjusted earnings per share (EPS) totaling $3.97. This amount is above the consensus estimate of $3.04 by over $0.93 per share or about 30%.
The return on equity for MercadoLibre was noted as impressive at around 34.92 % with a net margin of about 5.46%. The company even showed a significant increase in revenue at around $3.04 billion compared to analysts’ expectations of just $2.88 billion for that time period or an increase of about $160 million.
When looking at previous years’ performance, MercadoLibre’s earnings per share amount has shown steady growth rising from $1.30 in prior years’ reporting periods.
The company primarily operates within four geographical segments including Brazil, Argentina, Mexico, and Other Countries; this includes several countries from South America like Chile, Colombia as well as some North American entities such as the United States’ America.
Finance experts predict that with or without reduced stakes from banks like Commerce Bank, MercadoLibre will continue to perform positively this year due to their strong financial standing and impressive potential for long-term growth making it quite an alluring investment option not just for U.S investors but for interested investors worldwide.
Institutional Investors and Hedge Funds Show Increased Interest in MercadoLibre (NASDAQ: MELI)
MercadoLibre, Inc. (NASDAQ: MELI) has been seeing buying activity from institutional investors and hedge funds recently. CI Investments Inc. increased its position by 7.9% in the fourth quarter to own 25,916 shares of the company’s stock worth $21,931,000 after purchasing an additional 1,906 shares during the last quarter. In addition, Jupiter Asset Management Ltd., Hamilton Wealth LLC and BTG Pactual Global Asset Management Ltd also lifted their positions in MercadoLibre by purchasing additional shares in the last quarter. Currently, hedge funds and other institutional investors own around 80.49% of the stock.
On Thursday, NASDAQ MELI opened at a price point of $1,284.13 with a market cap of $64.48 billion and a P/E ratio of 105.17. The company’s debt-to-equity ratio is currently 1.23 with quick and current ratios of 1.26 and 1.28, respectively. MercadoLibre’s fifty-two week low is $600.68 while its fifty-two week high is $1,365.64.
MercadoLibre is engaged in providing an online commerce platform with e-commerce as well as related services focus that operates across Brazil, Argentina,Mexico and several other countries such as Chile,Honduras etc.
In other news relating to MercadoLibre’s stock dealings this year , Director Emiliano Calemzuk made recent transactions selling off his shares at average prices within the range of $1256 per share; now he possesses some 115 shares.
Despite downgraded ratings from research analysts do not seem to have had major effects on investment sentiment as Morgan Stanley has shown its interest lifting their target price while StockNews.com opened coverage on MercadoLibre giving a moderate rating.
As for its insiders’ trading activities, corporate insiders hold a stake of 0.27% in the stock.
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