Northwestern Mutual Wealth Management Co. lifted its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 16.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 257 shares of the company’s stock after purchasing an additional 36 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Mercadolibre were worth $130,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Group Wealth Management LLC acquired a new position in Mercadolibre in the 1st quarter valued at about $28,000. Icon Wealth Partners LLC acquired a new position in Mercadolibre in the 1st quarter valued at about $32,000. Shine Investment Advisory Services Inc. acquired a new position in Mercadolibre in the 1st quarter valued at about $34,000. Carroll Financial Associates Inc. increased its position in Mercadolibre by 59.5% in the 1st quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock valued at $34,000 after acquiring an additional 25 shares during the period. Finally, Capital Investment Advisory Services LLC increased its position in Mercadolibre by 76.4% in the 1st quarter. Capital Investment Advisory Services LLC now owns 97 shares of the company’s stock valued at $49,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.
Several equities analysts recently issued reports on the company. BTIG Research cut Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price target on the stock. in a research report on Tuesday, June 4th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective on the stock in a report on Friday, May 10th. BBA Icatu Securities lowered Mercadolibre from an “outperform” rating to an “underperform” rating and lifted their price objective for the company from $400.00 to $520.00 in a report on Wednesday, May 8th. Finally, Barclays reaffirmed a “buy” rating on shares of Mercadolibre in a report on Sunday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Mercadolibre presently has an average rating of “Hold” and an average target price of $500.08.
Shares of MELI opened at $623.41 on Thursday. Mercadolibre Inc has a twelve month low of $257.52 and a twelve month high of $634.00. The company has a market capitalization of $30.25 billion, a price-to-earnings ratio of -760.26 and a beta of 1.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.82 and a current ratio of 2.82.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $423.19 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. Analysts expect that Mercadolibre Inc will post 1.16 EPS for the current year.
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Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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