Baillie Gifford Co Lowers stake in Mercadolibre Inc (MELI)

Mercadolibre Inc (MELI) : Baillie Gifford Co reduced its stake in Mercadolibre Inc by 0.25% during the most recent quarter end. The investment management company now holds a total of 6,356,926 shares of Mercadolibre Inc which is valued at $1,080,232,435 after selling 15,620 shares in Mercadolibre Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Mercadolibre Inc makes up approximately 1.78% of Baillie Gifford Co’s portfolio.

Other Hedge Funds, Including , Blue Rock Advisors sold out all of its stake in MELI during the most recent quarter. The investment firm sold 1,635 shares of MELI which is valued $284,032.Brown Capital Management boosted its stake in MELI in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 22,286 shares of Mercadolibre Inc which is valued at $3,855,032. Mercadolibre Inc makes up approx 0.06% of Brown Capital Management’s portfolio.Carmignac Gestion reduced its stake in MELI by selling 29,271 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 2,231,452 shares of MELI which is valued at $337,841,833. Mercadolibre Inc makes up approx 2.75% of Carmignac Gestion’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.Cabot Wealth Management Inc reduced its stake in MELI by selling 838 shares or 2.7% in the most recent quarter. The Hedge Fund company now holds 30,244 shares of MELI which is valued at $4,514,522. Mercadolibre Inc makes up approx 1.16% of Cabot Wealth Management Inc’s portfolio.

Mercadolibre Inc closed down -1.36 points or -0.81% at $166.97 with 7,34,922 shares getting traded on Wednesday. Post opening the session at $168.71, the shares hit an intraday low of $165.95 and an intraday high of $168.71 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 $0.74 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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