Exchange Traded Concepts LLC Purchases 1,180 Shares of Mastercard Incorporated $MA

Key Points

• Exchange Traded Concepts LLC increased its stake in Mastercard by 11.9% during the second quarter, bringing its total holdings to 11,055 shares valued at approximately $6.21 million.
• Mastercard's stock has seen favorable upgrades from several brokerages, with the average target price set at $630.89 and 24 analysts giving it a "Buy" rating.
• Insider activity revealed that Mastercard executives sold over 38,700 shares worth approximately $22.68 million in the last 90 days, indicating potential insider movements related to their stock holdings.

Exchange Traded Concepts LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,055 shares of the credit services provider's stock after buying an additional 1,180 shares during the period. Exchange Traded Concepts LLC's holdings in Mastercard were worth $6,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ethos Financial Group LLC lifted its holdings in Mastercard by 19.5% during the first quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock worth $1,683,000 after acquiring an additional 518 shares in the last quarter. Fortis Advisors LLC increased its holdings in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock worth $477,000 after purchasing an additional 75 shares in the last quarter. Canandaigua National Trust Co of Florida boosted its position in Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock worth $380,000 after acquiring an additional 185 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Mastercard by 18.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock valued at $3,766,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in Mastercard by 0.5% during the first quarter. Focus Partners Wealth now owns 607,702 shares of the credit services provider's stock worth $333,095,000 after purchasing an additional 3,001 shares during the last quarter. Institutional investors own 97.28% of the company's stock.

Insiders Place Their Bets

In related news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the transaction, the insider owned 12,921 shares in the company, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company's stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,717 shares of company stock valued at $22,684,831. Insiders own 0.09% of the company's stock.

Mastercard Stock Up 0.4%

Shares of NYSE MA traded up $2.11 during mid-day trading on Monday, reaching $586.27. 2,046,931 shares of the company's stock traded hands, compared to its average volume of 2,780,634. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day simple moving average of $577.23 and a 200 day simple moving average of $559.16. The stock has a market cap of $529.99 billion, a P/E ratio of 39.52, a PEG ratio of 2.39 and a beta of 0.99. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77.

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

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

Wall Street Analysts Forecast Growth

MA has been the subject of several recent research reports. TD Cowen reissued a "buy" rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Wolfe Research set a $655.00 price target on shares of Mastercard in a research report on Monday, June 23rd. UBS Group lifted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Truist Financial cut their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Mastercard from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $630.89.

Mastercard Profile

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.