TRU Independence Asset Management 2 LLC Takes $1.21 Million Position in MercadoLibre, Inc. $MELI

Key Points

• TRU Independence Asset Management 2 LLC acquired a $1.21 million stake in MercadoLibre, purchasing 463 shares, according to its 13F filing.
• Analysts have varying price targets for MercadoLibre, with Jefferies setting a target of $2,800.00 and Raymond James at $2,750.00, while the stock has an average target of $2,828.33.
• Despite missing earnings estimates with an EPS of $10.31, MercadoLibre reported a revenue of $6.79 billion, exceeding analyst expectations.

TRU Independence Asset Management 2 LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 463 shares of the company's stock, valued at approximately $1,210,000.

Other hedge funds have also made changes to their positions in the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the 1st quarter worth about $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its position in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock worth $37,000 after purchasing an additional 11 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MELI. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Barclays dropped their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,828.33.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,468.42 on Friday. The stock's 50 day moving average price is $2,391.84 and its 200 day moving average price is $2,332.60. The firm has a market capitalization of $125.14 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period last year, the firm posted $10.48 earnings per share. The business's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.

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