Light Street Capital Management LLC Buys New Stake in MercadoLibre, Inc. $MELI

Light Street Capital Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,049 shares of the company’s stock, valued at approximately $7,969,000. MercadoLibre comprises 1.6% of Light Street Capital Management LLC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors have also bought and sold shares of MELI. Brooklyn Investment Group increased its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the last quarter. Twin Tree Management LP purchased a new position in MercadoLibre in the first quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the second quarter worth about $29,000. Saudi Central Bank bought a new stake in MercadoLibre during the first quarter worth approximately $35,000. Finally, McIlrath & Eck LLC raised its position in MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Thursday, December 4th. Citigroup dropped their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Wedbush boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Benchmark lowered their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Stock Down 0.2%

Shares of MELI opened at $2,015.89 on Friday. The firm has a fifty day moving average price of $2,121.14 and a 200-day moving average price of $2,316.57. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $102.21 billion, a P/E ratio of 49.19, a P/E/G ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the business earned $7.83 EPS. The company’s quarterly revenue was up 39.5% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director directly owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

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.