GMT Capital Corp Makes New $10.60 Million Investment in Global Payments Inc. $GPN

Key Points

• GMT Capital Corp acquired 108,200 shares of Global Payments Inc. valued at approximately $10,595,000, making it the firm's 26th largest position.
• Global Payments reported $3.10 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, with revenue meeting projections at $2.36 billion.
• The company announced a quarterly dividend of $0.25, with a payout ratio of 17.48%, representing an anticipated annual yield of 1.1% for investors.

GMT Capital Corp acquired a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 108,200 shares of the business services provider's stock, valued at approximately $10,595,000. Global Payments comprises about 0.6% of GMT Capital Corp's holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPN. NBC Securities Inc. acquired a new position in Global Payments during the 1st quarter valued at about $30,000. Larson Financial Group LLC boosted its stake in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after purchasing an additional 317 shares during the period. Zions Bancorporation National Association UT acquired a new position in Global Payments during the 1st quarter valued at about $37,000. Golden State Wealth Management LLC lifted its stake in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after acquiring an additional 438 shares during the period. Finally, TFC Financial Management Inc. lifted its stake in shares of Global Payments by 9,580.0% in the 1st quarter. TFC Financial Management Inc. now owns 484 shares of the business services provider's stock worth $47,000 after acquiring an additional 479 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Down 0.4%

Global Payments stock traded down $0.31 during trading hours on Wednesday, hitting $86.68. The company had a trading volume of 2,403,267 shares, compared to its average volume of 2,761,893. The firm has a market capitalization of $21.03 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm's fifty day moving average is $83.14 and its 200-day moving average is $84.96. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 EPS. On average, research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments's dividend payout ratio is currently 17.48%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GPN shares. Truist Financial upped their price target on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Mizuho raised shares of Global Payments from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $86.00 to $114.00 in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. UBS Group increased their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Ten analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $112.21.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares of the company's stock, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.01% of the company's stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.