Janney Montgomery Scott LLC Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Janney Montgomery Scott LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,327 shares of the company’s stock after purchasing an additional 338 shares during the period. Janney Montgomery Scott LLC’s holdings in MercadoLibre were worth $10,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Barlow Wealth Partners Inc. lifted its stake in shares of MercadoLibre by 4.8% in the fourth quarter. Barlow Wealth Partners Inc. now owns 374 shares of the company’s stock worth $687,000 after buying an additional 17 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of MercadoLibre by 11.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 861 shares of the company’s stock worth $1,464,000 after buying an additional 85 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of MercadoLibre by 22.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,212 shares of the company’s stock worth $2,061,000 after buying an additional 219 shares in the last quarter. Alpha Cubed Investments LLC lifted its stake in shares of MercadoLibre by 16.5% in the fourth quarter. Alpha Cubed Investments LLC now owns 269 shares of the company’s stock worth $457,000 after buying an additional 38 shares in the last quarter. Finally, Legal Advantage Investments Inc. lifted its stake in shares of MercadoLibre by 14.6% in the fourth quarter. Legal Advantage Investments Inc. now owns 1,571 shares of the company’s stock worth $2,671,000 after buying an additional 200 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,843.45 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $93.46 billion, a price-to-earnings ratio of 65.05, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company’s 50 day simple moving average is $1,844.29 and its 200-day simple moving average is $1,911.72. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Analysts Set New Price Targets

A number of equities analysts have commented on MELI shares. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Wedbush reduced their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,241.00.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.