MBB Public Markets I LLC Buys New Stake in Global Payments Inc. $GPN

Key Points

• MBB Public Markets I LLC invested approximately $319,000 in 3,257 shares of Global Payments Inc. in the first quarter, marking a significant new position for the firm.
• Multiple hedge funds, including NBC Securities Inc. and Larson Financial Group LLC, have made substantial changes to their positions in Global Payments, indicating increasing institutional interest in the stock.
• Global Payments recently announced a quarterly dividend of $0.25 per share, representing a 1.2% yield, with a positive earnings report that beat analysts' expectations.

MBB Public Markets I LLC acquired a new stake in Global Payments Inc. (NYSE:GPN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,257 shares of the business services provider's stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Perigon Wealth Management LLC grew its stake in Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after buying an additional 144 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after buying an additional 157 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Global Payments by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after buying an additional 171 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Global Payments by 1.7% in the 4th quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock valued at $1,163,000 after purchasing an additional 172 shares during the last quarter. Finally, WESCAP Management Group Inc. grew its stake in shares of Global Payments by 2.5% in the 1st quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider's stock valued at $695,000 after purchasing an additional 176 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on GPN. Truist Financial lifted their target price on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. Keefe, Bruyette & Woods lifted their target price on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.21.

Insider Transactions at Global Payments

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

Global Payments Price Performance

Shares of NYSE:GPN traded down $1.33 on Friday, hitting $85.35. The company had a trading volume of 1,344,702 shares, compared to its average volume of 1,990,322. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The business has a 50 day moving average of $84.15 and a 200 day moving average of $83.96. The company has a market cap of $20.71 billion, a PE ratio of 14.92, a PEG ratio of 0.83 and a beta of 0.97.

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

Global Payments Announces Dividend

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

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.