RedJay Asset Management Inc. Purchases New Position in Mastercard Incorporated (NYSE:MA)

RedJay Asset Management Inc. bought a new stake in Mastercard Incorporated (NYSE:MA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,000 shares of the credit services provider's stock, valued at approximately $4,385,000. Mastercard comprises 2.4% of RedJay Asset Management Inc.'s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds have also made changes to their positions in MA. NewSquare Capital LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at $26,000. Measured Risk Portfolios Inc. purchased a new stake in Mastercard during the fourth quarter worth about $31,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Mastercard during the fourth quarter worth about $32,000. Navigoe LLC purchased a new position in shares of Mastercard in the fourth quarter valued at approximately $33,000. Finally, 10Elms LLP acquired a new position in shares of Mastercard in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MA. 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 Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group restated a "buy" rating and set a $633.00 target price on shares of Mastercard in a research note on Wednesday, April 2nd. KeyCorp lifted their price target on shares of Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Truist Financial assumed coverage on shares of Mastercard in a research report on Monday, June 2nd. They set a "buy" rating and a $640.00 price objective for the company. 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 company. According to data from MarketBeat, Mastercard presently has an average rating of "Moderate Buy" and an average target price of $611.50.

Mastercard Price Performance

MA traded down $4.71 during trading on Wednesday, reaching $559.90. 1,658,250 shares of the stock were exchanged, compared to its average volume of 2,875,459. The company has a market capitalization of $510.47 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.45 and a beta of 1.02. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71. The business's 50 day moving average price is $564.92 and its two-hundred day moving average price is $545.89. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.57 by $0.16. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The business had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business earned $3.31 earnings per share. The company's quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. Mastercard's dividend payout ratio (DPR) is currently 21.32%.

Insider Transactions at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the sale, the insider owned 58,451 shares in the company, valued at $20,636,125.55. This trade represents a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sandra A. Arkell sold 150 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $580.00, for a total transaction of $87,000.00. Following the completion of the sale, the insider directly owned 3,255 shares in the company, valued at $1,887,900. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,441 shares of company stock worth $20,173,035 in the last three months. 0.09% of the stock is currently owned by company insiders.

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.