Fox Run Management L.L.C. Invests $762,000 in Mastercard Incorporated (MA)
Fox Run Management L.L.C. acquired a new position in shares of Mastercard Incorporated (NYSE:MA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,400 shares of the credit services provider’s stock, valued at approximately $762,000.
Several other hedge funds also recently added to or reduced their stakes in MA. Strs Ohio lifted its position in Mastercard by 1.4% in the 3rd quarter. Strs Ohio now owns 925,360 shares of the credit services provider’s stock valued at $130,660,000 after acquiring an additional 13,191 shares in the last quarter. APG Asset Management N.V. lifted its position in Mastercard by 133.0% in the 3rd quarter. APG Asset Management N.V. now owns 1,927,727 shares of the credit services provider’s stock valued at $272,195,000 after acquiring an additional 1,100,200 shares in the last quarter. Carnick & Kubik Group LLC bought a new position in Mastercard in the 3rd quarter valued at about $268,000. Financial Consulate Inc. bought a new position in Mastercard in the 3rd quarter valued at about $210,000. Finally, Honkamp Krueger Financial Services Inc. lifted its position in Mastercard by 44.1% in the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 3,632 shares of the credit services provider’s stock valued at $513,000 after acquiring an additional 1,111 shares in the last quarter. 75.81% of the stock is currently owned by institutional investors.
Shares of Mastercard Incorporated (NYSE:MA) traded up $0.24 during mid-day trading on Friday, hitting $151.93. 3,016,700 shares of the stock traded hands, compared to its average volume of 3,219,936. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. Mastercard Incorporated has a 12 month low of $102.98 and a 12 month high of $154.65. The stock has a market cap of $160,588.44, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.02 and a beta of 1.20.
Mastercard announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is presently 20.47%.
In other news, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Vosburg sold 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the sale, the insider now owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $3,582,984. 0.30% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on MA shares. Guggenheim raised shares of Mastercard from a “neutral” rating to a “buy” rating and raised their price target for the company from $135.00 to $153.00 in a research report on Monday, September 11th. Instinet reaffirmed a “buy” rating and issued a $163.00 price target (up previously from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. Oppenheimer reaffirmed a “buy” rating and issued a $145.00 price target on shares of Mastercard in a research report on Friday, September 8th. Nomura raised their price target on shares of Mastercard from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Finally, Cowen reaffirmed a “buy” rating and issued a $137.00 price target on shares of Mastercard in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $159.69.
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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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