Northwestern Mutual Wealth Management Co. Sells 2,123 Shares of MercadoLibre, Inc. $MELI

Northwestern Mutual Wealth Management Co. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,934 shares of the company’s stock after selling 2,123 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $13,967,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bison Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC boosted its position in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth boosted its position in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new position in MercadoLibre during the second quarter valued at approximately $261,000. Finally, Gamco Investors INC. ET AL grew its stake in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after acquiring an additional 30 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. BTIG Research lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, UBS Group lowered their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,730.98 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $87.76 billion, a P/E ratio of 45.68, a P/E/G ratio of 1.04 and a beta of 1.36. The company has a fifty day moving average of $1,720.80 and a 200-day moving average of $1,898.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm posted $9.74 earnings per share. The business’s revenue was up 49.0% on a year-over-year basis. As a group, equities research analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

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.