Mastercard Incorporated (MA) Stake Lowered by Bowie Capital Management LLC
Bowie Capital Management LLC lowered its stake in Mastercard Incorporated (NYSE:MA) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,000 shares of the credit services provider’s stock after selling 3,000 shares during the quarter. Mastercard accounts for 2.4% of Bowie Capital Management LLC’s portfolio, making the stock its 7th largest position. Bowie Capital Management LLC’s holdings in Mastercard were worth $8,866,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of MA. American Beacon Advisors Inc. purchased a new stake in Mastercard in the first quarter worth approximately $100,000. Chicago Partners Investment Group LLC boosted its holdings in Mastercard by 1,365.6% in the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 874 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Mastercard by 170.1% in the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Mastercard by 108.2% in the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 464 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mastercard in the second quarter worth approximately $121,000. Institutional investors own 75.71% of the company’s stock.
MA has been the topic of several research reports. Instinet restated a “buy” rating and issued a $163.00 target price (up previously from $153.00) on shares of Mastercard in a report on Saturday, September 9th. KeyCorp reiterated a “buy” rating and issued a $165.00 price target on shares of Mastercard in a research report on Wednesday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $174.00 price target (up from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $161.00 price target on shares of Mastercard in a research report on Friday, October 13th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $158.00 price target (up from $149.00) on shares of Mastercard in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have given a buy rating to the company. Mastercard presently has a consensus rating of “Buy” and a consensus target price of $157.68.
In other Mastercard news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the transaction, the director now directly owns 45,278 shares of the company’s stock, valued at approximately $6,452,567.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,582,984 over the last three months. Corporate insiders own 0.30% of the company’s stock.
Mastercard Incorporated (NYSE:MA) opened at $149.02 on Monday. Mastercard Incorporated has a 52 week low of $99.51 and a 52 week high of $152.00. The company has a market cap of $157,760.00, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 1.99 and a beta of 1.22. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company posted $1.08 EPS. The business’s revenue was up 18.1% on a year-over-year basis. sell-side analysts anticipate that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 6th were paid a $0.22 dividend. The ex-dividend date was Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. Mastercard’s payout ratio is currently 20.51%.
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Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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