Janney Capital Management LLC Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Janney Capital Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,642 shares of the company’s stock after selling 27 shares during the period. Janney Capital Management LLC’s holdings in MercadoLibre were worth $9,056,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MELI. 1620 Investment Advisors Inc. raised its holdings in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after acquiring an additional 5 shares during the period. Texas Yale Capital Corp. raised its holdings in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock valued at $2,779,000 after acquiring an additional 5 shares during the period. Meiji Yasuda Life Insurance Co increased its holdings in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after purchasing an additional 5 shares during the last quarter. Formidable Asset Management LLC increased its holdings in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after purchasing an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,632.50.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,402.75 on Thursday. The company has a market capitalization of $121.82 billion, a price-to-earnings ratio of 59.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,635.88. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $2,370.14 and a 200 day moving average of $2,082.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.78 earnings per share. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.