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

Key Points

• Northwestern Mutual Wealth Management Co. cut its MercadoLibre stake by 14.3% in the second quarter, selling 1,477 shares and retaining 8,829 shares valued at approximately $14.99 million. Institutional investors and hedge funds collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, beating estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion. The stock opened at $1,922.73, with a market capitalization of $97.48 billion.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $2,272.

Northwestern Mutual Wealth Management Co. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,829 shares of the company's stock after selling 1,477 shares during the quarter. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC grew its position in shares of MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after purchasing an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC increased its stake in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. raised its position in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after purchasing an additional 5 shares during the last quarter. Strategic Advisors LLC raised its position in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,922.73 on Friday. The business's 50-day moving average price is $1,793.05 and its 200 day moving average price is $1,775.94. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm earned $10.31 earnings per share. MercadoLibre's revenue was up 49.8% compared to the same quarter last year. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on MELI shares. Daiwa Securities Group cut MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Citigroup boosted 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. Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. BTIG Research reaffirmed a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

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.

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