WCM Investment Management LLC Sells 45,402 Shares of Mercadolibre Inc (NASDAQ:MELI)

WCM Investment Management LLC cut its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 13.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,754 shares of the company’s stock after selling 45,402 shares during the period. Mercadolibre comprises 1.2% of WCM Investment Management LLC’s portfolio, making the stock its 16th biggest position. WCM Investment Management LLC owned 0.62% of Mercadolibre worth $186,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Group Wealth Management LLC bought a new position in shares of Mercadolibre in the 1st quarter worth $28,000. NEXT Financial Group Inc raised its position in shares of Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after acquiring an additional 24 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Mercadolibre in the 1st quarter worth $32,000. CENTRAL TRUST Co raised its position in shares of Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after acquiring an additional 20 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its position in shares of Mercadolibre by 59.5% in the 1st quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after acquiring an additional 25 shares in the last quarter. 83.37% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MELI traded down $7.50 during mid-day trading on Thursday, hitting $622.33. 11,958 shares of the company’s stock traded hands, compared to its average volume of 607,375. The company has a fifty day moving average of $634.70 and a 200 day moving average of $540.58. Mercadolibre Inc has a twelve month low of $257.52 and a twelve month high of $698.98. The company has a market capitalization of $29.99 billion, a P/E ratio of -757.93 and a beta of 1.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54.

Mercadolibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The company had revenue of $545.24 million for the quarter, compared to analyst estimates of $507.68 million. During the same period in the prior year, the company posted ($0.25) EPS. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year. On average, research analysts expect that Mercadolibre Inc will post 0.69 earnings per share for the current fiscal year.

Several research firms have recently commented on MELI. Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $609.00 to $729.00 in a research report on Thursday, August 8th. Cowen set a $651.00 price target on Mercadolibre and gave the stock a “hold” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. BTIG Research lowered Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price target for the company. in a research report on Tuesday, June 4th. Finally, Credit Suisse Group boosted their price target on Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Mercadolibre currently has an average rating of “Buy” and a consensus target price of $620.63.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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