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

Janney Montgomery Scott LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 61.2% during the first quarter, HoldingsChannel.com reports. The firm owned 12,186 shares of the company’s stock after acquiring an additional 4,627 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MercadoLibre were worth $21,070,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Boomfish Wealth Group LLC lifted its stake in shares of MercadoLibre by 3.5% in the first quarter. Boomfish Wealth Group LLC now owns 1,373 shares of the company’s stock worth $2,374,000 after buying an additional 47 shares in the last quarter. Larry Mathis Financial Planning LLC increased its position in shares of MercadoLibre by 45.0% during the first quarter. Larry Mathis Financial Planning LLC now owns 219 shares of the company’s stock valued at $379,000 after acquiring an additional 68 shares in the last quarter. ABN AMRO Bank N.V. increased its position in shares of MercadoLibre by 65.7% during the first quarter. ABN AMRO Bank N.V. now owns 454 shares of the company’s stock valued at $776,000 after acquiring an additional 180 shares in the last quarter. Sterling Capital Management LLC purchased a new position in MercadoLibre in the 1st quarter worth approximately $107,000. Finally, Maridea Wealth Management LLC raised its holdings in MercadoLibre by 16.6% in the 1st quarter. Maridea Wealth Management LLC now owns 914 shares of the company’s stock worth $1,580,000 after acquiring an additional 130 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,697.39 on Wednesday. The stock has a market cap of $86.06 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.04 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock’s fifty day moving average is $1,681.30 and its 200 day moving average is $1,836.87. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MELI. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their target price for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. UBS Group dropped their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

About MercadoLibre

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.