Fox Point Capital Management adds Mercadolibre Inc (MELI) to its portfolio

Mercadolibre Inc (MELI) : Fox Point Capital Management added new position in Mercadolibre Inc during the most recent quarter end. The investment management firm now holds 10,000 shares of Mercadolibre Inc which is valued at $1,688,600 , the company said in a statement filed on Aug 12, 2016 with the SEC.Mercadolibre Inc makes up approximately 3.82% of Fox Point Capital Management’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd added MELI to its portfolio by purchasing 6,400 company shares during the most recent quarter which is valued at $1,080,704. Mercadolibre Inc makes up approx 0.02% of Nomura Asset Management Co Ltd’s portfolio.Baillie Gifford Co reduced its stake in MELI by selling 15,620 shares or 0.25% in the most recent quarter. The Hedge Fund company now holds 6,356,926 shares of MELI which is valued at $1,080,232,435. Mercadolibre Inc makes up approx 1.78% of Baillie Gifford Co’s portfolio.Simplex Trading boosted its stake in MELI in the latest quarter, The investment management firm added 992 additional shares and now holds a total of 1,574 shares of Mercadolibre Inc which is valued at $239,830. Mercadolibre Inc makes up approx 0.03% of Simplex Trading’s portfolio.Eqis Capital Management boosted its stake in MELI in the latest quarter, The investment management firm added 229 additional shares and now holds a total of 3,623 shares of Mercadolibre Inc which is valued at $539,102. Mercadolibre Inc makes up approx 0.04% of Eqis Capital Management’s portfolio.

Mercadolibre Inc closed down -0.38 points or -0.23% at $166.57 with 4,46,547 shares getting traded on Monday. Post opening the session at $167.01, the shares hit an intraday low of $166.11 and an intraday high of $168.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Mercadolibre Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.60. The company had revenue of $199.64 million for the quarter, compared to analysts expectations of $180.94 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Investors should note that on Aug 4, 2016, Mercadolibre Inc announced a cash dividend of $0.1500. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Mercadolibre Inc. Goldman Initiated Mercadolibre Inc on Aug 9, 2016 to “Neutral”, Price Target of the shares are set at $170.Company shares were Reiterated by Piper Jaffray on Aug 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 185 from a previous price target of $160 .

MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.

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