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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Dimensional Fund Advisors LP raised its stake in shares of MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company's stock valued at $386,000 after acquiring an additional 67 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of MercadoLibre by 26.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company's stock valued at $47,978,000 after buying an additional 6,153 shares during the period. Mackenzie Financial Corp raised its position in shares of MercadoLibre by 3.0% during the second quarter. Mackenzie Financial Corp now owns 1,727 shares of the company's stock worth $2,838,000 after acquiring an additional 51 shares during the last quarter. Algert Global LLC lifted its stake in shares of MercadoLibre by 30.0% in the second quarter. Algert Global LLC now owns 390 shares of the company's stock worth $641,000 after acquiring an additional 90 shares during the period. Finally, Creative Planning increased its position in MercadoLibre by 44.6% during the 2nd quarter. Creative Planning now owns 6,027 shares of the company's stock valued at $9,904,000 after purchasing an additional 1,859 shares during the period. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MELI shares. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price target on the stock. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Finally, BTIG Research reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,241.00.

MercadoLibre Stock Performance

Shares of MELI traded up $2.55 during mid-day trading on Monday, hitting $1,846.00. The stock had a trading volume of 355,768 shares, compared to its average volume of 333,760. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $93.59 billion, a P/E ratio of 65.14, a PEG ratio of 0.96 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The business has a fifty day moving average price of $1,844.29 and a 200-day moving average price of $1,913.18.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.

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.