Miracle Mile Advisors LLC Has $11.04 Million Position in Mastercard Incorporated (NYSE:MA)

Miracle Mile Advisors LLC increased its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,132 shares of the credit services provider's stock after purchasing an additional 1,904 shares during the quarter. Miracle Mile Advisors LLC's holdings in Mastercard were worth $11,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. Norges Bank acquired a new stake in Mastercard in the 4th quarter worth approximately $6,022,224,000. GAMMA Investing LLC lifted its holdings in Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Mastercard in the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC lifted its holdings in Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Mastercard by 15.2% in the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock worth $4,817,684,000 after purchasing an additional 1,207,787 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

MA opened at $590.03 on Friday. The stock has a market cap of $537.94 billion, a PE ratio of 42.48, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $591.16. The stock's 50 day simple moving average is $547.49 and its 200-day simple moving average is $541.93.

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

Analyst Ratings Changes

Several research firms recently weighed in on MA. Tigress Financial restated a "strong-buy" rating on shares of Mastercard in a report on Monday, March 10th. Truist Financial initiated coverage on Mastercard in a research report on Monday, June 2nd. They issued a "buy" rating and a $640.00 price target on the stock. Monness Crespi & Hardt downgraded Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Macquarie dropped their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research report on Friday. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $610.00.

Insiders Place Their Bets

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at $46,692,629.36. This represents a 15.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the transaction, the insider now owns 34,524 shares of the company's stock, valued at $18,459,292.32. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,258 shares of company stock worth $20,885,067 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

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.

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