Union Bancaire Privee UBP SA Has $16.92 Million Position in MercadoLibre, Inc. $MELI

Union Bancaire Privee UBP SA boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,473 shares of the company’s stock after purchasing an additional 390 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in MercadoLibre were worth $16,919,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MELI. Weitz Investment Management Inc. acquired a new position in MercadoLibre in the third quarter valued at about $8,647,000. Barlow Wealth Partners Inc. grew its position in shares of MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after buying an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of MercadoLibre by 14.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after acquiring an additional 10,849 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of MercadoLibre by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after acquiring an additional 7,570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in MercadoLibre by 5.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock worth $27,015,000 after acquiring an additional 600 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,725.33.

MercadoLibre Stock Down 1.4%

Shares of MELI stock opened at $1,666.93 on Friday. MercadoLibre, Inc. has a 12-month low of $1,631.18 and a 12-month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $1,959.01 and a 200-day moving average of $2,099.04. The company has a market capitalization of $84.51 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 0.83 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company’s revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.61 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.