7G Capital Management LLC Raises Holdings in MercadoLibre, Inc. $MELI

7G Capital Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 400.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 500 shares of the company’s stock after buying an additional 400 shares during the period. MercadoLibre accounts for about 0.6% of 7G Capital Management LLC’s holdings, making the stock its 11th largest holding. 7G Capital Management LLC’s holdings in MercadoLibre were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the second quarter valued at about $29,000. Curio Wealth LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $30,000. Finally, Holos Integrated Wealth LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $32,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MELI shares. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research report on Friday, May 8th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald cut their price objective on 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. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 2.5%

Shares of NASDAQ MELI opened at $1,631.82 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm has a market cap of $82.73 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 1.03 and a beta of 1.36. 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’s 50-day simple moving average is $1,711.90 and its 200-day simple moving average is $1,864.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (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 analysts’ expectations of $8.29 billion. During the same period in the previous year, the firm posted $9.74 earnings per share. The firm’s revenue was up 49.0% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

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.