UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in MercadoLibre, Inc. $MELI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 459,784 shares of the company’s stock after purchasing an additional 12,845 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MercadoLibre were worth $926,125,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MELI. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Assenagon Asset Management S.A. increased its holdings in MercadoLibre by 803.4% during 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. Norges Bank purchased a new stake in MercadoLibre during the 4th quarter worth about $597,045,000. Baillie Gifford & Co. increased its holdings in MercadoLibre by 4.9% during 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. Finally, Capital International Investors increased its holdings in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MELI. Morgan Stanley cut their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Barclays lowered their price objective on 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. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Wedbush lowered their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Down 1.3%

Shares of NASDAQ MELI opened at $1,589.60 on Friday. The stock has a market cap of $80.59 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The business has a 50-day moving average price of $1,715.68 and a 200 day moving average price of $1,873.83.

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

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

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.