UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 533,816 shares of the company's stock after buying an additional 38,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.05% of MercadoLibre worth $906,094,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in MELI. Capital Research Global Investors raised its stake 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 acquiring an additional 408,939 shares during the period. Capital International Investors boosted its position in shares of MercadoLibre by 7.3% in the fourth 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. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock worth $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth $2,246,015,000. Finally, Janus Henderson Group PLC raised its position in shares of MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the period. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Stock Performance
MELI opened at $1,966.25 on Friday. The stock has a market capitalization of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.35 and a beta of 1.34. The company has a fifty day moving average of $1,824.45 and a 200 day moving average of $1,772.36. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week 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.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the previous year, the company earned $10.31 EPS. The business's quarterly revenue was up 49.8% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Barclays decreased their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, BTIG Research reissued a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.
Check Out Our Latest Stock Report on MercadoLibre
About MercadoLibre
(
Free Report)
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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