TT International Asset Management LTD Invests $818,000 in MercadoLibre, Inc. $MELI

Key Points

• TT International Asset Management LTD has acquired a new stake in MercadoLibre, Inc., purchasing 313 shares valued at approximately $818,000.
• MercadoLibre's stock has shown strong performance, with a 2.4% increase recently, and its market capitalization at $124.02 billion.
• Despite missing earnings estimates, the company reported a revenue increase of 33.8% year-over-year, totaling $6.79 billion for the last quarter.

TT International Asset Management LTD purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 313 shares of the company's stock, valued at approximately $818,000.

Other large investors have also recently made changes to their positions in the company. Key Financial Inc purchased a new position in shares of MercadoLibre during the first quarter worth approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. 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 valued at $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 0.1%

Shares of NASDAQ:MELI traded down $3.07 on Monday, hitting $2,449.27. 128,294 shares of the company's stock were exchanged, compared to its average volume of 389,673. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market capitalization of $124.18 billion, a price-to-earnings ratio of 60.51, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The business's 50 day simple moving average is $2,382.11 and its two-hundred day simple moving average is $2,319.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.48 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Citigroup dropped their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Profile

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.