MercadoLibre, Inc. $MELI Stock: TT Capital Management LLC Grows Holdings

TT Capital Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 450.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 727 shares of the company’s stock after buying an additional 595 shares during the period. TT Capital Management LLC’s holdings in MercadoLibre were worth $1,257,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $2,246,015,000. Janus Henderson Group PLC lifted its holdings in MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares in the last quarter. Linonia Partnership LP lifted its holdings in MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Jupiter Topco LLC acquired a new stake in MercadoLibre during the 2nd quarter worth $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MercadoLibre by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock worth $906,094,000 after purchasing an additional 38,871 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MELI. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Citigroup lowered their price target on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research report on Tuesday. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,251.88.

MercadoLibre Trading Up 1.2%

Shares of MELI traded up $22.00 during midday trading on Thursday, reaching $1,861.11. The company had a trading volume of 201,399 shares, compared to its average volume of 535,930. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,428.00. The stock has a market cap of $94.36 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. The firm has a 50 day simple moving average of $1,862.34 and a 200-day simple moving average of $1,781.58. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The business 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 company’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.31 EPS. Research analysts forecast that MercadoLibre, Inc. will post 38.13 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.