Janney Montgomery Scott LLC Acquires 4,627 Shares of MercadoLibre, Inc. $MELI

Janney Montgomery Scott LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 61.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,186 shares of the company’s stock after buying an additional 4,627 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MercadoLibre were worth $21,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in MercadoLibre during the third quarter valued at about $35,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,697.39 on Wednesday. The firm has a market capitalization of $86.06 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The business’s 50-day moving average price is $1,681.30 and its 200-day moving average price is $1,836.87.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.