Glynn Capital Management Lowers stake in Mercadolibre Inc (MELI)

Mercadolibre Inc (MELI) : Glynn Capital Management reduced its stake in Mercadolibre Inc by 11.81% during the most recent quarter end. The investment management company now holds a total of 118,585 shares of Mercadolibre Inc which is valued at $15.1 Million after selling 15,875 shares in Mercadolibre Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Mercadolibre Inc makes up approximately 4.80% of Glynn Capital Management’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth reduced its stake in MELI by selling 1,030 shares or 8.27% in the most recent quarter. The Hedge Fund company now holds 11,430 shares of MELI which is valued at $1.5 Million. Mercadolibre Inc makes up approx 0.06% of Boston Private Wealth’s portfolio. Raymond James Associates added MELI to its portfolio by purchasing 3,039 company shares during the most recent quarter which is valued at $387,564.Stanley-laman Group Ltd. reduced its stake in MELI by selling 45,940 shares or 76.98% in the most recent quarter. The Hedge Fund company now holds 13,734 shares of MELI which is valued at $1.8 Million. Mercadolibre Inc makes up approx 0.33% of Stanley-laman Group Ltd.’s portfolio.Swiss National Bank boosted its stake in MELI in the latest quarter, The investment management firm added 10,900 additional shares and now holds a total of 54,200 shares of Mercadolibre Inc which is valued at $6.9 Million. Mercadolibre Inc makes up approx 0.01% of Swiss National Bank’s portfolio.

Mercadolibre Inc closed down -0.58 points or -0.43% at $134.02 with 1,97,876 shares getting traded on Wednesday. Post opening the session at $134.8, the shares hit an intraday low of $133.39 and an intraday high of $135.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Mercadolibre Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.57. The company had revenue of $157.63 million for the quarter, compared to analysts expectations of $145.95 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Mercadolibre Inc. Company shares were Reiterated by Piper Jaffray on Apr 4, 2016 to “Overweight”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .Mercadolibre Inc was Upgraded by HSBC Securities to ” Hold” on Mar 2, 2016.

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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