Does MercadoLibre (MELI) Have the Potential for Greater Share Gain?

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Investor Class) returned 22.64% compared to 3.96% for the MSCI Emerging Markets Index. The fund has returned 85.15% cumulatively since June 30, 2015, compared to 22.24% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter 2023 investor letter. Headquartered in Montevideo, Uruguay, Mercadolibre, Inc. (NASDAQ:MELI) is an eCommerce platform. On April 18, 2023, MercadoLibre, Inc. (NASDAQ:MELI) stock closed at $1,321.47 per share. One-month return of MercadoLibre, Inc. (NASDAQ:MELI) was 11.36%, and its shares gained 22.34% of their value over the last 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a market capitalization of $66.414 billion.

Artisan Developing World Fund made the following comment about MercadoLibre, Inc. (NASDAQ:MELI) in its Q1 2023 investor letter:

“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre delivered strong e-commerce results with the potential for even greater share gains in the coming quarters as a result of Americanas’ pending restructuring, while its fintech and advertising businesses continue to present additional dimensions of revenue growth and scale. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter.”

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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, 75 hedge fund portfolios held MercadoLibre, Inc. (NASDAQ:MELI) at the end of the fourth quarter which was 81 in the previous quarter.

We discussed MercadoLibre, Inc. (NASDAQ:MELI) in another article and shared the list of best cyclical stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 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.