MercadoLibre, Inc. $MELI Shares Acquired by 7G Capital Management LLC

7G Capital Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 736.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,180 shares of the company’s stock after purchasing an additional 3,680 shares during the period. MercadoLibre accounts for 4.1% of 7G Capital Management LLC’s portfolio, making the stock its 7th largest holding. 7G Capital Management LLC’s holdings in MercadoLibre were worth $7,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the second quarter worth about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in MercadoLibre in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,877.95 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market cap of $95.21 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. The business has a 50 day simple moving average of $1,728.64 and a 200 day simple moving average of $1,804.99. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm posted $9.74 EPS. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Barclays decreased 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. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and cut their target price for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Morgan Stanley reduced their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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.