Janney Montgomery Scott LLC Grows Stake in MercadoLibre, Inc. $MELI

Key Points

• Janney Montgomery Scott LLC increased its holdings in MercadoLibre by 9.8%, owning 7,339 shares valued at approximately $19.18 million as of the end of the last quarter.
• MercadoLibre reported earnings per share of $10.31, missing estimates by $1.70, but its revenue for the quarter grew by 33.8% year-over-year, reaching $6.79 billion.
• Analyst ratings for MercadoLibre include a mixture of upgrades and target price changes, with a consensus rating of "Moderate Buy" and a price target of around $2,828.33.

Janney Montgomery Scott LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,339 shares of the company's stock after buying an additional 655 shares during the quarter. Janney Montgomery Scott LLC's holdings in MercadoLibre were worth $19,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Financial Inc bought a new position in shares of MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre during the 1st quarter valued at approximately $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its position in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock valued at $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 3.2%

Shares of NASDAQ MELI opened at $2,246.60 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market capitalization of $113.90 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 1.42 and a beta of 1.46. The stock has a 50 day moving average price of $2,386.09 and a 200 day moving average price of $2,340.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.48 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Barclays dropped their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,828.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.