Mercadolibre (MELI) Posted Strong Growth in Q3

Lakehouse Capital, an investment management company, released its “Lakehouse Global Growth Fund” November 2022 investor letter. A copy of the same can be downloaded here. November was a quiet month, and the fund returned 1.0% net of fees and expenses compared to 2.9%return for its benchmark MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Lakehouse Capital discussed stocks like Mercadolibre, Inc. (NASDAQ:MELI) in the November 2022 investor letter. Headquartered in Montevideo, Uruguay, Mercadolibre, Inc. (NASDAQ:MELI) is an eCommerce platform. On January 3, 2023, Mercadolibre, Inc. (NASDAQ:MELI) stock closed at $826.11 per share. One-month return of Mercadolibre, Inc. (NASDAQ:MELI) was -6.33% and its shares lost 38.02% of their value over the last 52 weeks. Mercadolibre, Inc. (NASDAQ:MELI) has a market capitalization of $41.549 billion.

Here is what Lakehouse Capital specifically said about Mercadolibre, Inc. (NASDAQ:MELI) in its November letter:

“A noteworthy result in November was Buenos Aires based e-commerce leader Mercadolibre, Inc. (NASDAQ:MELI), which posted another impressive quarterly result despite ongoing macro concerns. The company delivered net revenue growth of 45% year-on-year in U.S. dollar terms along with a steady increase in operating profitability, with operating margins increasing 240 basis points to 11%. Its marketplace business experienced strong growth across all key markets – namely Brazil, Argentina and Mexico – and generated $8.6 billion in gross merchandise value, up 32% year-on-year. It was also pleasing to see unique buyers increase 10% to 42.5 million and items purchased per buyer remain broadly stable, indicating stickiness among recently acquired users and market share gains in some of its largest markets, particularly Brazil.”

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Mercadolibre, Inc. (NASDAQ:MELI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 81 hedge fund portfolios held Mercadolibre, Inc. (NASDAQ:MELI) at the end of the third quarter, which was 68 in the previous quarter.

We discussed Mercadolibre, Inc. (NASDAQ:MELI) in another article and shared Brown Capital Management’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.