WCM Investment Management LLC Increases Stake in MercadoLibre, Inc. $MELI

WCM Investment Management LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 497,518 shares of the company’s stock after acquiring an additional 1,833 shares during the quarter. MercadoLibre makes up 2.6% of WCM Investment Management LLC’s portfolio, making the stock its 11th largest holding. WCM Investment Management LLC’s holdings in MercadoLibre were worth $1,244,447,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MELI. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the second quarter valued at $29,000. Curio Wealth LLC raised its stake in shares of MercadoLibre by 1,400.0% in the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares during the period. Stone House Investment Management LLC bought a new position in shares of MercadoLibre in the second quarter worth about $39,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of MercadoLibre during the 3rd quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 in the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Wedbush dropped their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Morgan Stanley raised their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Citigroup dropped their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Finally, Susquehanna decreased their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,146.75 on Tuesday. The stock’s 50 day simple moving average is $2,075.77 and its two-hundred day simple moving average is $2,214.13. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The company has a market cap of $108.84 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 1.07 and a beta of 1.44.

About MercadoLibre

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.