Top 5 Stock Picks of David Halpert’s Prince Street Capital Management

1. MercadoLibre, Inc. (NASDAQ:MELI)

Prince Street Capital Management Stake Value: $26,534,000
Percentage of Prince Street Capital Management’s 13F Portfolio: 16.5%
Number of Hedge Fund Holders: 74

MercadoLibre, Inc. (NASDAQ:MELI) is an online e-commerce platform and online auction company based in Buenos Aires, Argentina. The company priced a public offering of 1 million shares of common stock at $1,550.00 per share on November 16, raising $1.55 billion in gross proceeds. The net revenues will be used to fund the business’s ongoing operations.

MercadoLibre, Inc. (NASDAQ:MELI) issued its third-quarter financial results on November 4, with earnings per share of $1.92, topping estimates of $0.63. However, the company also reported a revenue of $1.86 billion, below the consensus estimate of $30 million.

David Halpert’s Prince Street Capital currently owns 15,800 shares of MercadoLibre, Inc. (NASDAQ:MELI), amounting to more than $26.53 million in worth and accounting for 16.5% of the fund’s portfolio. At the end of the second quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes worth $4.02 billion in MercadoLibre, Inc. (NASDAQ:MELI), down from 69 in the previous quarter worth $5.22 billion.

In the Q2 2021 investor letter of Polen Capital, the fund mentioned MercadoLibre, Inc. (NASDAQ:MELI). Here is what the fund said:

“Argentina-based MercadoLibre operates Latin America’s leading ecommerce website and digital wallet. Both e-commerce and consumer finance are underpenetrated among the nearly 400 million citizens living in the company’s three largest markets: Brazil, Argentina, and Mexico.

MercadoLibre’s digitally native solution gives more than 70 million users an easy access point for both online shopping and a digital wallet.

From humble beginnings as a third-party marketplace, MercadoLibre’s management built the business over the last twenty years by steadily expanding the platform’s reach with new services to suit both merchants and consumers. Today’s offerings include financing capabilities for buyers and sellers, logistics, loyalty programs, classifieds listings, and grocery items. We think MercadoLibre can compound earnings at a 25% rate for the next five years.”

You can also take a peek at Dividend Stock Portfolio: 10 Stock Picks By Hedge Funds and Billionaire DE Shaw’s Top 10 Stock Picks

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