Northwestern Mutual Wealth Management Co. Sells 1,477 Shares of MercadoLibre, Inc. $MELI

Key Points

• Northwestern Mutual Wealth Management cut its MercadoLibre stake by 14.3%, selling 1,477 shares and retaining 8,829 shares valued at approximately $14.99 million. Institutional investors collectively own 87.62% of the company.
• Analyst sentiment remains favorable, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272, despite several brokerages lowering their targets.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates of $8.65, while revenue reached $10.17 billion and grew 49.8% year over year. Shares opened at $2,006.58, up 2.2%.

Northwestern Mutual Wealth Management Co. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brown Advisory Inc. increased its stake in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock worth $30,943,000 after buying an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC raised its position in MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association lifted its holdings in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after buying an additional 1,083 shares during the period. Deepwater Asset Management LLC grew its position in shares of MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock worth $15,641,000 after buying an additional 2,164 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of MercadoLibre during the second quarter valued at $279,445,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MELI. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Scotiabank reduced their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research note on Thursday, May 7th. Barclays cut their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Stock Up 2.2%

Shares of MELI stock opened at $2,006.58 on Thursday. The stock's 50-day simple moving average is $1,845.93 and its 200-day simple moving average is $1,769.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The firm has a market capitalization of $101.73 billion, a PE ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

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

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