Light Street Capital Management buys $29,932,500 stake in Mercadolibre Inc (MELI)

Mercadolibre Inc (MELI) : Light Street Capital Management scooped up 92,123 additional shares in Mercadolibre Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 195,000 shares of Mercadolibre Inc which is valued at $29,932,500.Mercadolibre Inc makes up approximately 4.59% of Light Street Capital Management’s portfolio.

Other Hedge Funds, Including , Verity Asset Management sold out all of its stake in MELI during the most recent quarter. The investment firm sold 9,988 shares of MELI which is valued $1,533,158.Blackrock Advisors reduced its stake in MELI by selling 22,649 shares or 17.96% in the most recent quarter. The Hedge Fund company now holds 103,493 shares of MELI which is valued at $17,517,225. Mercadolibre Inc makes up approx 0.02% of Blackrock Advisors’s portfolio.Aperio Group reduced its stake in MELI by selling 327 shares or 12.97% in the most recent quarter. The Hedge Fund company now holds 2,194 shares of MELI which is valued at $365,542.Prentiss Smith Co Inc boosted its stake in MELI in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 600 shares of Mercadolibre Inc which is valued at $101,658. Mercadolibre Inc makes up approx 0.06% of Prentiss Smith Co Inc’s portfolio.

Mercadolibre Inc opened for trading at $156.75 and hit $160.62 on the upside on Monday, eventually ending the session at $157.63, with a gain of 0.23% or 0.36 points. The heightened volatility saw the trading volume jump to 4,06,901 shares. Company has a market cap of $6,961 M.

On the company’s financial health, Mercadolibre Inc reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.84. The company had revenue of $230.85 million for the quarter, compared to analysts expectations of $225.18 million. The company’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Mercadolibre Inc. Mercadolibre Inc was Resumed by Morgan Stanley to “Underweight” on Oct 28, 2016. Mercadolibre Inc was Upgraded by JP Morgan to ” Overweight” on Sep 2, 2016.

MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.

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