UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $1.07 Billion Holdings in MercadoLibre, Inc. $MELI

Key Points

• UBS AM has increased its stake in MercadoLibre, Inc. (MELI) by 21.2%, acquiring an additional 96,283 shares during the first quarter, bringing its total ownership to 550,433 shares valued at approximately $1.07 billion.
• The company's recent earnings report indicated a miss on earnings per share with $10.31, below the expected $12.01, but it achieved a 33.8% year-over-year revenue growth to $6.79 billion.
• Analysts have set various price targets for MercadoLibre, with estimates ranging from $2,750 to $3,500, indicating a generally positive outlook despite one downgrade to a "hold" rating.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 550,433 shares of the company's stock after buying an additional 96,283 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.09% of MercadoLibre worth $1,073,823,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $561,000. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $206,000. Cetera Investment Advisers boosted its holdings in shares of MercadoLibre by 4.0% during the fourth quarter. Cetera Investment Advisers now owns 5,476 shares of the company's stock valued at $9,311,000 after acquiring an additional 213 shares during the period. Ethic Inc. boosted its holdings in shares of MercadoLibre by 9.2% during the fourth quarter. Ethic Inc. now owns 916 shares of the company's stock valued at $1,558,000 after acquiring an additional 77 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of MercadoLibre by 25.1% during the fourth quarter. Focus Partners Wealth now owns 424 shares of the company's stock valued at $721,000 after acquiring an additional 85 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. Benchmark reissued a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Price Performance

MELI stock traded down $10.79 on Thursday, hitting $2,338.20. 331,013 shares of the company's stock traded hands, compared to its average volume of 330,152. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $118.54 billion, a price-to-earnings ratio of 57.75, a P/E/G ratio of 1.53 and a beta of 1.49. The stock has a fifty day moving average of $2,388.33 and a 200-day moving average of $2,304.90. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the company earned $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.