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

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in MercadoLibre by 3.8% during the 1st quarter, holding 8,572 shares valued at approximately $16.7 million.
• A total of 87.62% of MercadoLibre's stock is owned by institutional investors and hedge funds, indicating significant institutional interest in the company.
• Analysts have varied price targets for MercadoLibre, with consensus estimates averaging around $2,817.22 and a majority rating the stock as a "Buy" or "Strong Buy."

Northwestern Mutual Wealth Management Co. grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,572 shares of the company's stock after acquiring an additional 311 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in MercadoLibre were worth $16,723,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MELI. Jennison Associates LLC lifted its position in MercadoLibre by 1.6% during the 1st 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 period. Invesco Ltd. lifted its position in MercadoLibre by 22.4% during the 1st 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 period. GQG Partners LLC lifted its position in MercadoLibre by 23.5% during the 1st 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MercadoLibre by 14.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 454,150 shares of the company's stock worth $772,255,000 after acquiring an additional 57,806 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in MercadoLibre by 18.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company's stock worth $878,757,000 after acquiring an additional 70,834 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Stock Down 0.9%

MELI stock opened at $2,407.74 on Tuesday. The company has a market cap of $122.07 billion, a P/E ratio of 59.47, a P/E/G ratio of 1.58 and a beta of 1.46. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company's 50-day moving average price is $2,410.39 and its 200 day moving average price is $2,280.61. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

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

MercadoLibre 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.