Galaxy Digital Capital Management GP LLC Acquires Shares of 780 MercadoLibre, Inc. $MELI

Galaxy Digital Capital Management GP LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 biggest holding.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. boosted its position in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital World Investors increased its holdings in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after buying an additional 22,659 shares in the last quarter. Capital International Investors raised its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. Finally, Barclays cut their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,635.15 on Friday. The firm has a market cap of $82.90 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $1,706.94 and a 200 day moving average price of $1,859.91.

MercadoLibre (NASDAQ:MELI) last released 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). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.74 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

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.