40,000 Shares in Mastercard Incorporated (NYSE:MA) Bought by Bornite Capital Management LP

Key Points

• Bornite Capital Management LP invested approximately $21.93 million in Mastercard, acquiring 40,000 shares, making it the firm's 7th largest holding.
• Mastercard reported a quarterly EPS of $4.15, surpassing analysts' expectations by $0.10, with a 16.8% year-over-year revenue increase to $8.13 billion.
• The company recently declared a $0.76 quarterly dividend, which represents an annualized yield of 0.5%, with a payout ratio of 20.50%.

Bornite Capital Management LP purchased a new stake in Mastercard Incorporated (NYSE:MA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 40,000 shares of the credit services provider's stock, valued at approximately $21,925,000. Mastercard accounts for 5.6% of Bornite Capital Management LP's holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MA. Measured Risk Portfolios Inc. purchased a new stake in shares of Mastercard during the 4th quarter worth about $31,000. Navigoe LLC purchased a new stake in shares of Mastercard during the 4th quarter worth about $33,000. 10Elms LLP purchased a new stake in shares of Mastercard during the 4th quarter worth about $33,000. Hughes Financial Services LLC purchased a new stake in shares of Mastercard during the 1st quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Mastercard during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MA. UBS Group boosted their target price on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a report on Thursday, July 17th. They set a "buy" rating and a $650.00 target price for the company. Truist Financial decreased their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Royal Bank Of Canada boosted their target price on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $615.33.

Mastercard Stock Performance

Shares of NYSE MA traded up $0.29 during trading on Tuesday, reaching $573.88. The stock had a trading volume of 2,593,766 shares, compared to its average volume of 2,583,637. Mastercard Incorporated has a one year low of $454.89 and a one year high of $594.71. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $518.80 billion, a PE ratio of 38.70, a P/E/G ratio of 2.36 and a beta of 1.03. The firm's 50 day moving average price is $563.59 and its two-hundred day moving average price is $553.98.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the business earned $3.50 EPS. The business's quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, July 9th. Mastercard's payout ratio is 20.50%.

Insider Transactions at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the transaction, the insider directly owned 23,624 shares in the company, valued at $13,229,440. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julius Genachowski sold 312 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,453 shares of company stock valued at $20,178,667 over the last 90 days. Insiders own 0.09% of the company's stock.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.