Verity Asset Management adds Mercadolibre Inc (MELI) to its portfolio

Mercadolibre Inc (MELI) : Verity Asset Management added new position in Mercadolibre Inc during the most recent quarter end. The investment management firm now holds 9,988 shares of Mercadolibre Inc which is valued at $1,686,574 , the company said in a statement filed on Aug 12, 2016 with the SEC.Mercadolibre Inc makes up approximately 1.62% of Verity Asset Management’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in MELI in the latest quarter, The investment management firm added 573 additional shares and now holds a total of 17,729 shares of Mercadolibre Inc which is valued at $2,993,719.New York State Common Retirement Fund boosted its stake in MELI in the latest quarter, The investment management firm added 6,327 additional shares and now holds a total of 196,168 shares of Mercadolibre Inc which is valued at $33,124,928. Mercadolibre Inc makes up approx 0.05% of New York State Common Retirement Fund’s portfolio.Vanguard Group Inc reduced its stake in MELI by selling 120 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 82,212 shares of MELI which is valued at $13,882,318.Sustainable Growth Advisers Lp boosted its stake in MELI in the latest quarter, The investment management firm added 6,091 additional shares and now holds a total of 126,031 shares of Mercadolibre Inc which is valued at $21,416,448. Mercadolibre Inc makes up approx 0.42% of Sustainable Growth Advisers Lp’s portfolio.Capital Fund Management S.a. reduced its stake in MELI by selling 81,829 shares or 94.17% in the most recent quarter. The Hedge Fund company now holds 5,066 shares of MELI which is valued at $766,992. Mercadolibre Inc makes up approx 0.01% of Capital Fund Management S.a.’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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