MercadoLibre, Inc. (MELI) Shares Bought by TIAA CREF Investment Management LLC

  • Investment management
  • 03/11/2017
TIAA CREF Investment Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 22.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,491 shares of the companys stock after acquiring an additional 1,390 shares during the period. TIAA CREF Investment Management LLCs holdings in MercadoLibre were worth $1,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wedbush Securities Inc. lifted its stake in MercadoLibre by 1.8% during the 2nd quarter. Wedbush Securities Inc. now owns 3,180 shares of the companys stock valued at $798,000 after acquiring an additional 55 shares during the period. Creative Planning lifted its stake in shares of MercadoLibre by 12.5% in the 2nd quarter. Creative Planning now owns 1,695 shares of the companys stock worth $425,000 after purchasing an additional 188 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of MercadoLibre by 0.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 75,145 shares of the companys stock worth $18,852,000 after purchasing an additional 415 shares during the period. Dupont Capital Management Corp lifted its stake in shares of MercadoLibre by 21.5% in the 2nd quarter. Dupont Capital Management Corp now owns 2,410 shares of the companys stock worth $605,000 after purchasing an additional 427 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of MercadoLibre by 6.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,623 shares of the companys stock worth $1,912,000 after purchasing an additional 446 shares during the period. Institutional investors and hedge funds own 83.92% of the companys stock.

MELI has been the topic of several recent research reports. KeyCorp reiterated a buy rating and issued a $290.00 price objective on shares of MercadoLibre in a research note on Tuesday, October 17th. Susquehanna Bancshares Inc reiterated a market perform rating and issued a $275.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a buy rating and issued a $275.00 price objective on shares of MercadoLibre in a research note on Wednesday, October 4th. Barclays PLC lowered their price objective on shares of MercadoLibre from $275.00 to $250.00 and set an overweight rating on the stock in a research note on Monday. Finally, BidaskClub upgraded shares of MercadoLibre from a hold rating to a buy rating in a research note on Sunday, July 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $264.28.

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MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks consensus estimate of $0.56 by $0.07. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The company had revenue of $370.66 million during the quarter, compared to the consensus estimate of $347.29 million. During the same period in the previous year, the company posted $0.88 earnings per share. MercadoLibres revenue for the quarter was up 60.6% on a year-over-year basis.

MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).

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