Light Street Capital Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 12,750 shares of the company’s stock, valued at approximately $21,642,000. MercadoLibre comprises about 2.4% of Light Street Capital Management LLC’s holdings, making the stock its 16th biggest position.
Several other large investors have also modified their holdings of the business. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre during the fourth quarter worth about $28,000. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at about $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at about $29,000. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Stock Down 2.3%
Shares of NASDAQ MELI opened at $1,950.44 on Thursday. The stock has a market cap of $98.89 billion, a P/E ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34. The business’s fifty day simple moving average is $1,811.91 and its 200-day simple moving average is $1,771.27. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.
Analyst Ratings Changes
MELI has been the topic of several recent analyst reports. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.
Read Our Latest Stock Analysis on MELI
MercadoLibre 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.
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