WCM Investment Management LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

WCM Investment Management LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 499,405 shares of the company’s stock after selling 34,466 shares during the quarter. MercadoLibre makes up about 2.0% of WCM Investment Management LLC’s holdings, making the stock its 18th largest holding. WCM Investment Management LLC’s holdings in MercadoLibre were worth $859,876,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MELI. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. lifted its position in MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the last quarter. KBC Group NV lifted its position in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the last quarter. Nordea Investment Management AB lifted its position in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2,244.69.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

MercadoLibre Trading Down 0.8 %

NASDAQ MELI opened at $1,996.65 on Friday. The company has a market capitalization of $101.23 billion, a PE ratio of 70.45, a P/E/G ratio of 1.06 and a beta of 1.62. The company has a fifty day moving average of $1,831.14 and a 200 day moving average of $1,926.86. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.