MercadoLibre, Inc. (NASDAQ:MELI) Stake Trimmed by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 82.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 882 shares of the company's stock after selling 4,010 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in MercadoLibre were worth $1,721,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in MercadoLibre during the fourth quarter worth $26,000. Covestor Ltd bought a new position in MercadoLibre during the fourth quarter worth $27,000. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth $32,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MELI shares. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,639.69.

MercadoLibre Price Performance

NASDAQ:MELI traded down $28.49 during mid-day trading on Friday, reaching $2,362.56. 278,497 shares of the stock were exchanged, compared to its average volume of 393,857. The business has a fifty day moving average price of $2,480.35 and a 200 day moving average price of $2,198.06. The firm has a market capitalization of $119.78 billion, a PE ratio of 58.11, a PEG ratio of 1.42 and a beta of 1.49. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the company earned $6.78 earnings per share. Research analysts expect 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.