Janney Montgomery Scott LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,684 shares of the company's stock after purchasing an additional 357 shares during the period. Janney Montgomery Scott LLC's holdings in MercadoLibre were worth $13,040,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mission Wealth Management LP raised its position in MercadoLibre by 9.7% in the first quarter. Mission Wealth Management LP now owns 259 shares of the company's stock valued at $505,000 after purchasing an additional 23 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of MercadoLibre by 255.2% during the first quarter. Bank Pictet & Cie Europe AG now owns 1,172 shares of the company's stock worth $2,286,000 after acquiring an additional 842 shares during the period. Asio Capital LLC grew its stake in shares of MercadoLibre by 2.5% during the first quarter. Asio Capital LLC now owns 2,474 shares of the company's stock worth $4,826,000 after purchasing an additional 60 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of MercadoLibre during the first quarter worth $246,000. Finally, BayBridge Capital Group LLC acquired a new position in shares of MercadoLibre during the first quarter worth $226,000. Hedge funds and other institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Finally, Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.
Get Our Latest Stock Analysis on MELI
MercadoLibre Trading Up 0.6%
Shares of MELI opened at $2,402.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $2,379.52 and a 200-day simple moving average of $2,085.56. MercadoLibre, Inc. has a 1-year low of $1,563.21 and a 1-year high of $2,635.88. The stock has a market cap of $121.82 billion, a price-to-earnings ratio of 59.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.78 EPS. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
MercadoLibre Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).
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