Galaxy Digital Capital Management GP LLC Invests $1.57 Million in MercadoLibre, Inc. $MELI

Galaxy Digital Capital Management GP LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 780 shares of the company’s stock, valued at approximately $1,571,000. MercadoLibre comprises about 1.6% of Galaxy Digital Capital Management GP LLC’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter worth $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,635.15 on Friday. The firm has a market capitalization of $82.90 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company’s fifty day moving average price is $1,706.94 and its two-hundred day moving average price is $1,859.91. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business posted $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% on a year-over-year basis. On average, analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Benchmark decreased 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. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Finally, Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

About MercadoLibre

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.