Light Street Capital Management LLC Takes $7.97 Million Position in MercadoLibre, Inc. $MELI

Light Street Capital Management LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,049 shares of the company’s stock, valued at approximately $7,969,000. MercadoLibre accounts for approximately 1.6% of Light Street Capital Management LLC’s holdings, making the stock its 17th biggest holding.

Other hedge funds also recently bought and sold shares of the company. 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 valued at $29,000 after acquiring an additional 13 shares during the period. Twin Tree Management LP bought a new stake in MercadoLibre during the first quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the second quarter valued at about $29,000. Saudi Central Bank bought a new position in MercadoLibre in the first quarter worth about $35,000. Finally, McIlrath & Eck LLC lifted its position in shares of 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 buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MELI. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

Insider Activity

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

MercadoLibre Trading Down 0.2%

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

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