WCM Investment Management LLC Sells 487,291 Shares of MercadoLibre, Inc. $MELI

WCM Investment Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 99.9% in the 1st quarter, HoldingsChannel reports. The fund owned 270 shares of the company’s stock after selling 487,291 shares during the quarter. WCM Investment Management LLC’s holdings in MercadoLibre were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $30,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.5%

Shares of MercadoLibre stock opened at $1,822.65 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $1,692.28 and its 200 day moving average is $1,818.66. The company has a market cap of $92.41 billion, a price-to-earnings ratio of 48.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.74 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MELI. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Scotiabank lowered their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,258.67.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.