Y Intercept Hong Kong Ltd Purchases 2,164 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Y Intercept Hong Kong Ltd boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 79.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,892 shares of the company’s stock after acquiring an additional 2,164 shares during the quarter. MercadoLibre makes up about 0.6% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 11th biggest position. Y Intercept Hong Kong Ltd’s holdings in MercadoLibre were worth $8,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB boosted its position in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares in the last quarter. Greenleaf Trust purchased a new position in shares of MercadoLibre during the third quarter valued at approximately $271,000. Tectonic Advisors LLC boosted its holdings in MercadoLibre by 30.4% in the third quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock worth $334,000 after acquiring an additional 38 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of MercadoLibre in the third quarter worth $427,000. Finally, Allworth Financial LP grew its stake in shares of MercadoLibre by 21.1% in the third quarter. Allworth Financial LP now owns 339 shares of the company’s stock worth $696,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MELI. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday. Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and a consensus target price of $2,364.06.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 7.1 %

Shares of MELI opened at $2,260.00 on Monday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The business’s 50 day moving average is $1,867.29 and its 200 day moving average is $1,958.01. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $114.58 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.