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

Light Street Capital Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,750 shares of the company’s stock, valued at approximately $21,642,000. MercadoLibre makes up 2.4% of Light Street Capital Management LLC’s portfolio, making the stock its 16th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after purchasing an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. TIAA Trust National Association boosted its holdings in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC grew its position in MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $279,445,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Benchmark dropped their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Price Performance

MELI stock opened at $1,950.44 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $98.89 billion, a PE ratio of 53.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34. The business has a 50 day simple moving average of $1,811.91 and a 200-day simple moving average of $1,771.27.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $10.31 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.