WCM Investment Management CA lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,356 shares of the company’s stock after purchasing an additional 20,152 shares during the quarter. MercadoLibre accounts for 0.8% of WCM Investment Management CA’s holdings, making the stock its 21st largest position. WCM Investment Management CA owned 0.54% of MercadoLibre worth $62,235,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Smithfield Trust Co. increased its stake in MercadoLibre by 1,025.0% in the third quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock valued at $116,000 after acquiring an additional 410 shares during the last quarter. Toronto Dominion Bank increased its position in shares of MercadoLibre by 18.4% during the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock worth $129,000 after acquiring an additional 80 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of MercadoLibre during the second quarter worth about $146,000. Ameritas Investment Partners Inc. bought a new stake in shares of MercadoLibre during the second quarter worth about $198,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of MercadoLibre during the third quarter worth about $213,000. 84.57% of the stock is currently owned by institutional investors.
MELI has been the subject of a number of recent analyst reports. Susquehanna Bancshares Inc reduced their price objective on shares of MercadoLibre from $275.00 to $230.00 in a research report on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and issued a $290.00 price objective on shares of MercadoLibre in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $275.00 price objective on shares of MercadoLibre in a research report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $268.00 price objective on shares of MercadoLibre in a research report on Monday, October 23rd. Finally, BidaskClub downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. MercadoLibre currently has an average rating of “Buy” and an average price target of $271.21.
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Shares of MercadoLibre, Inc. (MELI) traded down $3.79 during mid-day trading on Tuesday, hitting $267.08. 497,500 shares of the company were exchanged, compared to its average volume of 649,372. MercadoLibre, Inc. has a 12 month low of $148.98 and a 12 month high of $297.95. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76. The stock has a market cap of $11,660.00, a PE ratio of 77.39, a P/E/G ratio of 4.40 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. MercadoLibre had a net margin of 10.91% and a return on equity of 34.78%. The business had revenue of $370.66 million for the quarter, compared to analysts’ expectations of $347.29 million. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 60.6% compared to the same quarter last year. sell-side analysts anticipate that MercadoLibre, Inc. will post 2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, December 28th. MercadoLibre’s dividend payout ratio is presently 19.93%.
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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