MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 396,344 shares of the company’s stock after selling 92,554 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.78% of MercadoLibre worth $813,282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the second quarter worth about $36,000. Quarry LP acquired a new stake in shares of MercadoLibre during the second quarter worth about $43,000. Finally, Legacy Bridge LLC lifted its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 3.1 %

MELI stock opened at $2,044.76 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $2,024.62 and a 200-day simple moving average of $1,864.25. The stock has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Profile

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.