Howard Capital Management Inc. Acquires 115 Shares of MercadoLibre, Inc. $MELI

Howard Capital Management Inc. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 968 shares of the company’s stock after acquiring an additional 115 shares during the quarter. Howard Capital Management Inc.’s holdings in MercadoLibre were worth $2,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of MercadoLibre by 5.8% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 10,960 shares of the company’s stock valued at $28,645,000 after acquiring an additional 600 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of MercadoLibre by 358.0% during the second quarter. AustralianSuper Pty Ltd now owns 5,716 shares of the company’s stock valued at $14,940,000 after acquiring an additional 4,468 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in MercadoLibre by 8.9% in the second quarter. Teacher Retirement System of Texas now owns 45,698 shares of the company’s stock worth $119,438,000 after purchasing an additional 3,742 shares in the last quarter. Transcend Capital Advisors LLC bought a new position in MercadoLibre in the second quarter worth $212,000. Finally, Ashton Thomas Private Wealth LLC raised its holdings in MercadoLibre by 8.4% in the second quarter. Ashton Thomas Private Wealth LLC now owns 309 shares of the company’s stock worth $808,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.3%

NASDAQ MELI opened at $2,290.14 on Wednesday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market cap of $116.11 billion, a P/E ratio of 56.56, a P/E/G ratio of 1.55 and a beta of 1.46. The stock’s fifty day moving average price is $2,312.95 and its 200-day moving average price is $2,366.69. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the prior year, the company posted $10.48 earnings per share. The company’s revenue was up 33.8% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Scotiabank assumed coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Citigroup decreased their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,799.12.

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.