Janney Montgomery Scott LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Janney Montgomery Scott LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,684 shares of the company’s stock after acquiring an additional 357 shares during the period. Janney Montgomery Scott LLC’s holdings in MercadoLibre were worth $13,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Capital Research Global Investors grew its stake in shares of MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after buying an additional 179,807 shares during the period. Capital International Investors grew its stake in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after buying an additional 470,829 shares during the period. Capital World Investors grew its stake in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after buying an additional 2,048 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,402.75 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a fifty-two week low of $1,563.21 and a fifty-two week high of $2,635.88. The firm has a 50-day simple moving average of $2,379.52 and a 200 day simple moving average of $2,085.56. The company has a market cap of $121.82 billion, a PE ratio of 59.09, a P/E/G ratio of 1.34 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm earned $6.78 EPS. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Benchmark cut shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Citigroup restated a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Wall Street Zen upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,632.50.

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.