Mastercard Incorporated $MA Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Mastercard stake by 18.2% in the second quarter, acquiring 26,324 additional shares. Its 171,347-share position was valued at approximately $88 million and represented 1.1% of its portfolio.
• Analysts remain broadly bullish, with an overall “Buy” rating and an average price target of $666.64; five analysts rated the stock a Strong Buy, while 25 rated it a Buy.
• Mastercard reported quarterly EPS of $5.04 and revenue of $9.28 billion, exceeding estimates and reflecting 14.1% year-over-year revenue growth. The company also paid a quarterly dividend of $0.87 per share, while insiders sold $42.5 million worth of stock during the quarter.

Engineers Gate Manager LP raised its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 171,347 shares of the credit services provider's stock after purchasing an additional 26,324 shares during the quarter. Mastercard accounts for about 1.1% of Engineers Gate Manager LP's investment portfolio, making the stock its 5th biggest position. Engineers Gate Manager LP's holdings in Mastercard were worth $88,004,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in MA. Robinswood Financial LLC acquired a new position in shares of Mastercard in the first quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Mastercard by 820.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 46 shares of the credit services provider's stock valued at $26,000 after buying an additional 41 shares in the last quarter. Strive Financial Group LLC acquired a new stake in shares of Mastercard in the 4th quarter valued at $27,000. Hyposwiss Advisors SA bought a new stake in Mastercard during the fourth quarter worth about $29,000. Finally, First Pacific Financial increased its holdings in Mastercard by 113.8% during the 1st quarter. First Pacific Financial now owns 62 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Buying and Selling at Mastercard

In other news, insider Sandra Arkell sold 200 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $540.00, for a total transaction of $108,000.00. Following the completion of the transaction, the insider directly owned 3,322 shares in the company, valued at approximately $1,793,880. The trade was a 5.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 15,372 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $575.00, for a total value of $8,838,900.00. Following the completion of the sale, the chief executive officer directly owned 93,693 shares of the company's stock, valued at approximately $53,873,475. This trade represents a 14.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,623 shares of company stock valued at $42,544,606 over the last quarter. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MA shares. Clear Str upgraded shares of Mastercard to a "strong-buy" rating in a research report on Thursday, July 16th. Piper Sandler initiated coverage on Mastercard in a research note on Monday, June 29th. They issued an "overweight" rating and a $597.00 target price for the company. Loop Capital restated a "buy" rating and set a $631.00 target price on shares of Mastercard in a research report on Wednesday, June 3rd. Dbs Bank upgraded Mastercard to a "moderate buy" rating in a report on Friday, August 21st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $632.00 price objective on shares of Mastercard in a research report on Friday, July 31st. Five investment 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $666.64.

Mastercard Price Performance

Shares of MA stock opened at $570.35 on Wednesday. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $601.62. The stock has a market cap of $499.63 billion, a PE ratio of 31.37, a PEG ratio of 1.66 and a beta of 0.74. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.06 and a current ratio of 1.06. The firm's 50 day moving average price is $561.02 and its two-hundred day moving average price is $522.20.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS 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 net margin of 46.34% and a return on equity of 239.99%. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.15 EPS. As a group, analysts forecast that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Dividend Announcement

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

About Mastercard

Mastercard Incorporated NYSE: MA is a global technology company that operates a payments network connecting consumers, financial institutions, merchants, governments and businesses. The company facilitates electronic payment transactions, including credit, debit, prepaid and commercial payments, by providing the infrastructure used to authorize, clear and settle transactions.

Mastercard's products and services include its Mastercard-branded payment cards, digital payment tools, contactless payment technology and payment solutions for businesses and governments.

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