7G Capital Management LLC Grows Position in MercadoLibre, Inc. $MELI

Key Points

• 7G Capital Management increased its MercadoLibre stake by 736% in the first quarter, owning 4,180 shares valued at approximately $7.2 million. MercadoLibre now represents 4.1% of the firm’s portfolio.
• Institutional investors own 87.62% of MercadoLibre, while company director Alejandro Nicolas Aguzin purchased 600 shares worth nearly $994,000.
• MercadoLibre reported 49% year-over-year revenue growth to $8.85 billion, exceeding estimates, though quarterly EPS of $8.23 missed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,258.67.

7G Capital Management LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 736.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,180 shares of the company's stock after purchasing an additional 3,680 shares during the quarter. MercadoLibre accounts for 4.1% of 7G Capital Management LLC's portfolio, making the stock its 7th largest position. 7G Capital Management LLC's holdings in MercadoLibre were worth $7,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the fourth quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre during the fourth quarter worth about $30,000. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,877.95 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a 50 day moving average of $1,728.64 and a 200-day moving average of $1,804.99. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the firm earned $9.74 earnings per share. The firm's revenue was up 49.0% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Benchmark lowered 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. Citigroup raised their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Jefferies Financial Group raised MercadoLibre from a "hold" rating to a "buy" rating and decreased their price target for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research report on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,258.67.

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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