OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 61.9% in the fourth quarter, Holdings Channel reports. The fund owned 2,500 shares of the company’s stock after selling 4,070 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MercadoLibre were worth $5,036,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in MercadoLibre by 22.5% in the fourth 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 last quarter. Assenagon Asset Management S.A. increased its position in shares of MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after acquiring an additional 296,543 shares during the period. Norges Bank purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $597,045,000. Marshall Wace LLP increased its holdings in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the period. Institutional investors own 87.62% of the company’s stock.
MercadoLibre Stock Up 3.6%
MELI stock opened at $1,646.36 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The stock has a market capitalization of $83.47 billion, a P/E ratio of 43.45, a P/E/G ratio of 0.98 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. The firm has a 50-day simple moving average of $1,714.30 and a 200-day simple moving average of $1,870.00.
Insiders Place Their Bets
In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on MELI. Barclays cut their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. UBS Group decreased their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Finally, Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.
Read Our Latest Report on MELI
MercadoLibre Company 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.
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