MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,292 shares of the company’s stock after purchasing an additional 698 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $20,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. GQG Partners LLC raised its holdings in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after acquiring an additional 119,043 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,051.96 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $1,948.50 and a 200 day simple moving average of $1,716.05. The company has a market cap of $104.03 billion, a P/E ratio of 91.81, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.16 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 35.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MELI. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Raymond James began coverage on shares of MercadoLibre in a research note on Friday. They issued an “outperform” rating and a $2,350.00 price objective on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna upped their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Finally, BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two 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 stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,217.50.

About MercadoLibre

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.