MercadoLibre, Inc. $MELI Stock Acquired by TT International Asset Management LTD

TT International Asset Management LTD increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6,521.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,625 shares of the company’s stock after purchasing an additional 35,087 shares during the quarter. MercadoLibre comprises about 6.9% of TT International Asset Management LTD’s portfolio, making the stock its 8th biggest position. TT International Asset Management LTD owned 0.07% of MercadoLibre worth $61,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Integrity Alliance LLC. increased its position in MercadoLibre by 9.3% in the third quarter. Integrity Alliance LLC. now owns 538 shares of the company’s stock worth $930,000 after purchasing an additional 46 shares during the period. IPG Investment Advisors LLC raised its holdings in MercadoLibre by 28.3% during the 3rd quarter. IPG Investment Advisors LLC now owns 1,354 shares of the company’s stock worth $2,340,000 after purchasing an additional 299 shares during the last quarter. Landaas & Co. WI ADV lifted its position in MercadoLibre by 15.5% during the 3rd quarter. Landaas & Co. WI ADV now owns 179 shares of the company’s stock valued at $309,000 after purchasing an additional 24 shares during the period. Dala Group LLC lifted its position in MercadoLibre by 12.6% during the 3rd quarter. Dala Group LLC now owns 1,569 shares of the company’s stock valued at $2,711,000 after purchasing an additional 175 shares during the period. Finally, Greenleaf Trust lifted its position in MercadoLibre by 7.0% during the 3rd quarter. Greenleaf Trust now owns 289 shares of the company’s stock valued at $500,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MELI. BTIG Research reiterated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, October 27th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. New Street Research began coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,248.75.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,660.10 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock has a market cap of $84.17 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. The stock has a 50-day moving average of $1,829.97 and a 200-day moving average of $1,811.70. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,372.79.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.31 EPS. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.