TT International Asset Management LTD Purchases 35,087 Shares of MercadoLibre, Inc. $MELI

TT International Asset Management LTD increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6,521.7% during the third quarter, Holdings Channel reports. The firm owned 35,625 shares of the company’s stock after buying an additional 35,087 shares during the quarter. MercadoLibre makes up approximately 6.9% of TT International Asset Management LTD’s portfolio, making the stock its 8th largest holding. TT International Asset Management LTD’s holdings in MercadoLibre were worth $61,579,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MELI. Y.D. More Investments Ltd grew its holdings in MercadoLibre by 24.0% during the first quarter. Y.D. More Investments Ltd now owns 31 shares of the company’s stock worth $53,000 after purchasing an additional 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in MercadoLibre by 2.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company’s stock worth $367,000 after buying an additional 6 shares during the last quarter. Moody National Bank Trust Division raised its stake in MercadoLibre by 0.8% in the second quarter. Moody National Bank Trust Division now owns 733 shares of the company’s stock valued at $1,244,000 after buying an additional 6 shares during the period. Dynamic Advisor Solutions LLC lifted its position in shares of MercadoLibre by 0.5% in the second quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company’s stock valued at $2,083,000 after buying an additional 6 shares during the last quarter. Finally, Matrix Trust Co lifted its position in shares of MercadoLibre by 1.3% in the third quarter. Matrix Trust Co now owns 458 shares of the company’s stock valued at $792,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Susquehanna increased their price target on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,248.75.

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.