Northwestern Mutual Wealth Management Co. Buys 698 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Northwestern Mutual Wealth Management Co. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the second quarter, Holdings Channel.com reports. The firm owned 12,292 shares of the company’s stock after acquiring an additional 698 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $20,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MELI. First PREMIER Bank bought a new stake in MercadoLibre in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $36,000. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $36,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $38,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Barclays increased their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,217.50.

MercadoLibre Trading Down 0.6 %

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 stock has a market capitalization of $104.03 billion, a PE ratio of 91.81, a PEG 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. The firm has a 50-day moving average price of $1,948.50 and a two-hundred day moving average price of $1,716.05.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

MercadoLibre Company 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.