Legal Advantage Investments Inc. Has $2.67 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Legal Advantage Investments Inc. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,571 shares of the company’s stock after purchasing an additional 200 shares during the period. MercadoLibre makes up approximately 1.4% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 24th largest holding. Legal Advantage Investments Inc.’s holdings in MercadoLibre were worth $2,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Quarry LP bought a new stake in shares of MercadoLibre in the second quarter valued at about $43,000. Legacy Bridge LLC lifted its holdings in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after acquiring an additional 16 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Raymond James initiated coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,247.67.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

MercadoLibre Trading Down 0.1 %

NASDAQ MELI opened at $1,836.00 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market cap of $93.09 billion, a price-to-earnings ratio of 64.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60. The business’s fifty day moving average is $1,853.58 and its 200 day moving average is $1,907.54.

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.