Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in MercadoLibre, Inc. $MELI

Northwestern Mutual Wealth Management Co. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,829 shares of the company’s stock after selling 1,477 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $14,986,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MELI. Capital Research Global Investors raised its position in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital International Investors lifted its stake in MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares during the period. BlackRock Inc. bought a new stake in MercadoLibre during the second quarter valued at $2,246,015,000. Finally, Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after purchasing an additional 10,142 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,922.73 on Friday. The company has a 50 day moving average price of $1,793.05 and a two-hundred day moving average price of $1,775.94. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The stock has a market capitalization of $97.48 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.31 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Citigroup raised their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. UBS Group reduced their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Company Profile

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.