Legal Advantage Investments Inc. Has $5.19 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• Legal Advantage Investments Inc. increased its stake in MercadoLibre, Inc. by 21.8%, which now represents a value of approximately $5.19 million and 2.4% of its total holdings.
• MercadoLibre reported a Q2 earnings miss with an EPS of $10.31, below the consensus estimate of $12.01, although its revenue showed a year-over-year increase of 33.8% to $6.79 billion.
• Multiple brokerages have set new price targets for MercadoLibre, with Susquehanna raising its target to $2,975, indicating a positive outlook for the stock.

Legal Advantage Investments Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,986 shares of the company's stock after buying an additional 355 shares during the period. MercadoLibre makes up 2.4% of Legal Advantage Investments Inc.'s holdings, 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the first quarter valued at $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the period. Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new position in shares of MercadoLibre during the first quarter valued at about $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 6.2%

NASDAQ:MELI opened at $2,133.67 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm 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 PEG ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results 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 for 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 company's revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.48 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MELI. Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Finally, Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target 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.

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