Y Intercept Hong Kong Ltd Lowers Stock Position in MercadoLibre, Inc. $MELI

Y Intercept Hong Kong Ltd cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 768 shares of the company’s stock after selling 114 shares during the period. Y Intercept Hong Kong Ltd’s holdings in MercadoLibre were worth $2,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MELI. Invesco Ltd. grew its position in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the last quarter. GQG Partners LLC grew its position in MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the last quarter. Nuveen LLC purchased a new position in MercadoLibre in the 1st quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. grew its position in MercadoLibre by 18.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock valued at $878,757,000 after buying an additional 70,834 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MELI shares. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Wedbush lifted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday. Susquehanna lowered their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,796.47.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,328.90 on Friday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The business has a fifty day moving average of $2,310.58 and a two-hundred day moving average of $2,370.75. The company has a market cap of $118.08 billion, a P/E ratio of 56.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business posted $7.83 EPS. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.