Northwestern Mutual Wealth Management Co. Decreases Position in MercadoLibre, Inc. $MELI

Northwestern Mutual Wealth Management Co. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 23.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,934 shares of the company’s stock after selling 2,123 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $13,967,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MELI. Assenagon Asset Management S.A. raised its position in MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the period. Baillie Gifford & Co. raised its position in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Wellington Management Group LLP raised its position in MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after purchasing an additional 109,228 shares during the period. Franklin Resources Inc. raised its position in MercadoLibre by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after purchasing an additional 93,854 shares during the period. Finally, Durable Capital Partners LP raised its position in MercadoLibre by 155.3% in the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after purchasing an additional 90,026 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MELI. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Wedbush cut their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Benchmark cut their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, BTIG Research cut their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Trading Up 2.1%

Shares of MELI opened at $1,730.98 on Tuesday. The firm’s 50-day moving average price is $1,720.80 and its 200-day moving average price is $1,898.53. The firm has a market capitalization of $87.76 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 1.04 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.74 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS 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.