Legal Advantage Investments Inc. Boosts Stake in MercadoLibre, Inc. $MELI

Legal Advantage Investments Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,986 shares of the company’s stock after buying an additional 355 shares during the period. MercadoLibre accounts for 2.4% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 15th biggest holding. Legal Advantage Investments Inc.’s holdings in MercadoLibre were worth $5,191,000 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 MELI. Invesco Ltd. increased its stake in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC grew its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after acquiring an additional 87,912 shares during the period. Nuveen LLC bought a new position in shares of MercadoLibre during the 1st quarter valued at approximately $143,367,000. Finally, Goldman Sachs Group Inc. grew its position in shares of MercadoLibre by 18.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock valued at $878,757,000 after acquiring an additional 70,834 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 6.2%

MELI opened at $2,133.67 on Friday. The company has a 50 day moving average of $2,363.50 and a 200 day moving average of $2,346.09. The company has a market cap of $108.17 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate 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%.The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the business posted $10.48 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MELI shares. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday. Barclays reduced their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,815.29.

About MercadoLibre

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.