Y Intercept Hong Kong Ltd Buys 3,495 Shares of MercadoLibre, Inc. $MELI

Y Intercept Hong Kong Ltd increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 455.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,263 shares of the company’s stock after buying an additional 3,495 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MercadoLibre were worth $9,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Lavaca Capital LLC lifted its stake in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Schroder Investment Management Group grew its holdings in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after purchasing an additional 74,201 shares during the period. Ameriprise Financial Inc. grew its holdings in MercadoLibre by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after purchasing an additional 9,474 shares during the period. Finally, Norges Bank acquired a new position in MercadoLibre during the second quarter worth approximately $698,848,000. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MELI shares. Susquehanna cut their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Wedbush cut their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,842.94.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,137.29 on Friday. The firm has a 50-day moving average price of $2,051.07 and a two-hundred day moving average price of $2,224.91. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22. The company has a market capitalization of $108.36 billion, a P/E ratio of 52.15, a P/E/G ratio of 1.07 and a beta of 1.42. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.83 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

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.