Y Intercept Hong Kong Ltd Purchases 780 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Y Intercept Hong Kong Ltd raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 40.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,728 shares of the company’s stock after acquiring an additional 780 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MercadoLibre were worth $5,598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Raymond James & Associates boosted its holdings in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. KBC Group NV boosted its holdings in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the period. Caprock Group LLC grew its holdings in MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the last quarter. Sarasin & Partners LLP grew its position in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the last quarter. Finally, Mirabella Financial Services LLP increased its position in MercadoLibre by 622.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 2,159 shares of the company’s stock valued at $4,430,000 after purchasing an additional 1,860 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MELI. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three equities research 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 stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Trading Down 1.9 %

MercadoLibre stock opened at $1,947.18 on Monday. 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 market capitalization of $98.72 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 1.33 and a beta of 1.57. The firm has a 50-day moving average price of $2,006.79 and a two-hundred day moving average price of $1,877.14.

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.