Mastercard Incorporated (NYSE:MA) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 61.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 501 shares of the credit services provider's stock after selling 784 shares during the quarter. Wedge Capital Management L L P NC's holdings in Mastercard were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OLD National Bancorp IN increased its holdings in shares of Mastercard by 1.7% during the 1st quarter. OLD National Bancorp IN now owns 10,869 shares of the credit services provider's stock worth $5,958,000 after buying an additional 178 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Mastercard by 10.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 20,132 shares of the credit services provider's stock valued at $11,035,000 after purchasing an additional 1,904 shares in the last quarter. RDA Financial Network lifted its holdings in shares of Mastercard by 5.4% during the first quarter. RDA Financial Network now owns 3,579 shares of the credit services provider's stock worth $1,962,000 after buying an additional 183 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Mastercard by 21.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,787 shares of the credit services provider's stock worth $2,076,000 after buying an additional 660 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in Mastercard by 4.6% during the 1st quarter. Revolve Wealth Partners LLC now owns 3,603 shares of the credit services provider's stock valued at $1,975,000 after purchasing an additional 160 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Performance

MA traded down $1.99 on Thursday, hitting $588.75. The company's stock had a trading volume of 1,983,945 shares, compared to its average volume of 2,602,282. The company's 50 day simple moving average is $551.43 and its 200-day simple moving average is $543.22. The firm has a market cap of $536.77 billion, a P/E ratio of 42.39, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.16. The business had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. The company's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.31 EPS. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Insider Buying and Selling

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sandra A. Arkell sold 150 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the transaction, the insider now directly owns 3,555 shares in the company, valued at approximately $2,024,394.75. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,258 shares of company stock worth $20,885,067 in the last 90 days. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MA. Wall Street Zen lowered shares of Mastercard from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Macquarie dropped their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Citigroup increased their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research report on Monday, May 5th. KeyCorp boosted their price target on shares of Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and set a $633.00 target price on shares of Mastercard in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $610.00.

Mastercard Company 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.