Legal Advantage Investments Inc. Has $3.18 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Legal Advantage Investments Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,631 shares of the company’s stock after buying an additional 60 shares during the period. MercadoLibre accounts for 1.7% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 19th biggest holding. Legal Advantage Investments Inc.’s holdings in MercadoLibre were worth $3,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co increased its stake in MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC increased its stake in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after buying an additional 5 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after buying an additional 5 shares during the last quarter. Sonora Investment Management Group LLC boosted its stake in MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3%

Shares of MercadoLibre stock opened at $2,319.80 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a market cap of $117.61 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 1.48 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $2,416.37 and its 200-day moving average price is $2,255.38.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.48 earnings per share. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MELI shares. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,795.00.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.