Northwestern Mutual Wealth Management Co. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 216.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,677 shares of the company’s stock after purchasing an additional 19,620 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MercadoLibre were worth $57,763,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the third quarter worth approximately $8,647,000. Barlow Wealth Partners Inc. grew its position in shares of MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after buying an additional 6,429 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of MercadoLibre by 14.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock worth $202,610,000 after buying an additional 10,849 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after buying an additional 7,570 shares in the last quarter. Finally, Donaldson Capital Management LLC grew its position in shares of MercadoLibre by 65.0% during the third quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock worth $6,258,000 after buying an additional 1,055 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Stock Performance
Shares of MELI opened at $1,546.81 on Monday. The business’s fifty day moving average price is $1,734.98 and its 200 day moving average price is $1,943.06. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $78.42 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 0.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. BTIG Research reduced their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.
Check Out Our Latest Analysis on MercadoLibre
About MercadoLibre
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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