UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 38,871 Shares of MercadoLibre, Inc. $MELI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.9% during the second quarter, Holdings Channel.com reports. The firm owned 533,816 shares of the company’s stock after acquiring an additional 38,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MercadoLibre were worth $906,094,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Select Advisors LLC grew its stake in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares in the last quarter. Mitchell Capital Management Co. raised its position in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after buying an additional 5 shares in the last quarter. Strategic Advisors LLC raised its position in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after buying an additional 5 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after acquiring an additional 5 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its holdings in shares of MercadoLibre by 2.7% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company’s stock valued at $461,000 after acquiring an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.8%

MELI opened at $1,966.25 on Friday. The stock’s 50 day moving average price is $1,824.45 and its 200-day moving average price is $1,772.36. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 1.35 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.31 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MELI. Citigroup boosted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Profile

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.