MercadoLibre, Inc. $MELI Holdings Cut by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC reduced its holdings in MercadoLibre by 0.9% in Q2, now owning approximately 495,685 shares valued at $1.27 billion, constituting 2.9% of its portfolio.
• Various institutional investors have increased their stakes in MercadoLibre, with Invesco Ltd. lifting its holdings by 22.4%, bringing its total to around 570,967 shares worth $1.11 billion.
• Analysts have set price targets for MercadoLibre, with JPMorgan Chase lowering their target from $2,700.00 to $2,600.00, while the consensus target price currently stands at $2,810.88 with a majority rating of "Moderate Buy."

WCM Investment Management LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 495,685 shares of the company's stock after selling 4,605 shares during the period. MercadoLibre comprises about 2.9% of WCM Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. WCM Investment Management LLC owned about 0.98% of MercadoLibre worth $1,268,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. lifted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP lifted its holdings in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after acquiring an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,810.88.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,048.35 on Thursday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market cap of $103.85 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46. The stock's 50 day moving average price is $2,348.72 and its 200 day moving average price is $2,345.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the firm earned $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.

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