Nuveen LLC Acquires New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Nuveen LLC acquired 73,489 shares of MercadoLibre, Inc. for approximately $143.37 million, now holding about 0.14% of the company.
• MercadoLibre's stock has recently been down 2.6%, currently trading at $2,292.04, with a market cap of $116.21 billion.
• The company reported a net margin of 8.52% and a year-over-year revenue growth of 33.8% for the latest quarter but missed earnings per share estimates.

Nuveen LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 73,489 shares of the company's stock, valued at approximately $143,367,000. Nuveen LLC owned approximately 0.14% of MercadoLibre as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meiji Yasuda Life Insurance Co lifted its position in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares during the last quarter. Formidable Asset Management LLC lifted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after acquiring an additional 5 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after acquiring an additional 5 shares during the last quarter. Sonora Investment Management Group LLC raised its position in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC raised its position in shares of MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after buying an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MELI shares. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Benchmark reiterated a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $23.53 during midday trading on Wednesday, reaching $2,327.30. 313,716 shares of the company were exchanged, compared to its average volume of 358,235. The stock's 50-day moving average price is $2,421.61 and its 200-day moving average price is $2,252.11. The stock has a market cap of $117.99 billion, a P/E ratio of 57.48, a PEG ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The business's quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.48 EPS. On average, sell-side 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.