Firetrail Investments PTY Ltd. Makes New $12.51 Million Investment in Mastercard Incorporated $MA

Firetrail Investments PTY Ltd. purchased a new stake in Mastercard Incorporated (NYSE:MA) in the 2nd quarter, HoldingsChannel reports. The fund purchased 24,502 shares of the credit services provider’s stock, valued at approximately $12,508,000. Mastercard makes up 3.5% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 8th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after acquiring an additional 2,028 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Mastercard by 8.5% during the second quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider’s stock valued at $1,432,000 after purchasing an additional 200 shares during the period. Betterment LLC grew its stake in shares of Mastercard by 6.5% in the 2nd quarter. Betterment LLC now owns 947 shares of the credit services provider’s stock valued at $532,000 after buying an additional 58 shares during the period. Worldquant Millennium Advisors LLC raised its stake in Mastercard by 35.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider’s stock worth $380,548,000 after buying an additional 178,387 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Mastercard in the second quarter valued at approximately $431,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In related news, insider Raj Seshadri sold 4,828 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $525.00, for a total transaction of $2,534,700.00. Following the completion of the transaction, the insider owned 16,429 shares of the company’s stock, valued at approximately $8,625,225. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 7,444 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $577.13, for a total transaction of $4,296,155.72. Following the sale, the insider directly owned 40,916 shares in the company, valued at $23,613,851.08. This trade represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,357 shares of company stock valued at $40,637,262 in the last three months. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on Mastercard from $650.00 to $695.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Susquehanna decreased their price objective on Mastercard from $670.00 to $665.00 and set a “positive” rating for the company in a report on Friday, May 1st. Robert W. Baird upped their price target on Mastercard from $660.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Truist Financial boosted their price target on shares of Mastercard from $554.00 to $633.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Barclays lifted their target price on shares of Mastercard from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $664.71.

Mastercard Trading Down 0.2%

NYSE:MA opened at $598.69 on Wednesday. Mastercard Incorporated has a 1 year low of $464.52 and a 1 year high of $601.62. The stock’s fifty day moving average price is $542.94 and its two-hundred day moving average price is $518.46. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $524.46 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.80 and a beta of 0.72.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.27. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.15 earnings per share. As a group, analysts expect that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Thursday, July 9th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, July 9th. This represents a $3.48 annualized dividend and a dividend yield of 0.6%. Mastercard’s dividend payout ratio is currently 19.14%.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.