Janney Montgomery Scott LLC Purchases 338 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Janney Montgomery Scott LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,327 shares of the company’s stock after acquiring 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.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barlow Wealth Partners Inc. grew its stake in MercadoLibre by 4.8% in the 4th quarter. Barlow Wealth Partners Inc. now owns 374 shares of the company’s stock worth $687,000 after acquiring an additional 17 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of MercadoLibre by 11.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 861 shares of the company’s stock valued at $1,464,000 after purchasing an additional 85 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in shares of MercadoLibre by 22.1% during the fourth quarter. Atomi Financial Group Inc. now owns 1,212 shares of the company’s stock valued at $2,061,000 after purchasing an additional 219 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of MercadoLibre by 16.5% during the fourth quarter. Alpha Cubed Investments LLC now owns 269 shares of the company’s stock valued at $457,000 after purchasing an additional 38 shares in the last quarter. Finally, Legal Advantage Investments Inc. boosted its stake in shares of MercadoLibre by 14.6% during the fourth quarter. Legal Advantage Investments Inc. now owns 1,571 shares of the company’s stock valued at $2,671,000 after purchasing an additional 200 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated 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 sale, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. BTIG Research decreased their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Finally, Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,241.00.

MercadoLibre Stock Up 0.8 %

MELI stock opened at $1,843.45 on Monday. The firm has a market cap of $93.46 billion, a PE ratio of 65.05, a P/E/G ratio of 0.96 and a beta of 1.60. 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 firm’s fifty day moving average is $1,844.29 and its 200 day moving average is $1,911.72. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

MercadoLibre 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.