MercadoLibre, Inc. $MELI Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Okabena Investment Services Inc. increased its stake in shares of MercadoLibre by 6.5% in the 2nd quarter. Okabena Investment Services Inc. now owns 837 shares of the company’s stock valued at $1,421,000 after purchasing an additional 51 shares in the last quarter. Greenleaf Trust increased its position in shares of MercadoLibre by 6.7% in the second quarter. Greenleaf Trust now owns 270 shares of the company’s stock valued at $458,000 after buying an additional 17 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MercadoLibre by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock worth $906,094,000 after buying an additional 38,871 shares during the period. Toth Financial Advisory Corp lifted its position in shares of MercadoLibre by 3.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 237 shares of the company’s stock valued at $402,000 after buying an additional 7 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in MercadoLibre by 2,855.4% in the 2nd quarter. Van ECK Associates Corp now owns 97,143 shares of the company’s stock valued at $164,890,000 after acquiring an additional 93,856 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Citigroup raised their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

MELI stock opened at $2,006.58 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The business has a 50 day simple moving average of $1,845.93 and a 200-day simple moving average of $1,769.50. The firm has a market capitalization of $101.73 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.31. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 earnings per share. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

MercadoLibre 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.