MercadoLibre, Inc. $MELI Shares Purchased by TT Capital Management LLC

Key Points

• TT Capital Management increased its MercadoLibre stake by 450.8% in the third quarter, ending with 727 shares valued at approximately $1.26 million. Institutional investors collectively own 87.62% of MELI.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and EPS of $9.19, exceeding analyst expectations of $8.65.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $2,251.88.

TT Capital Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 450.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 727 shares of the company's stock after purchasing an additional 595 shares during the period. TT Capital Management LLC's holdings in MercadoLibre were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MELI. BlackRock Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $2,246,015,000. Janus Henderson Group PLC raised its stake in MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after acquiring an additional 10,142 shares during the last quarter. Linonia Partnership LP lifted its position in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after acquiring an additional 423,527 shares during the period. Jupiter Topco LLC acquired a new stake in MercadoLibre during the 2nd quarter worth about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 38,871 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $22.00 during midday trading on Thursday, reaching $1,861.11. 201,399 shares of the stock were exchanged, compared to its average volume of 535,930. The firm has a market cap of $94.36 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 1.32 and a beta of 1.31. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,428.00. The firm has a 50-day simple moving average of $1,862.34 and a two-hundred 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 - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same period in the previous year, the business posted $10.31 EPS. The business's revenue was up 49.8% compared to the same quarter last year. As a group, analysts anticipate that MercadoLibre, Inc. will post 38.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. New Street Research initiated coverage on MercadoLibre in a research note on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Monday. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Citigroup cut their price objective on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,251.88.

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.

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