Convergence Investment Partners LLC cut its stake in MasterCard Inc. (NYSE:MA) by 14.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,134 shares of the company’s stock after selling 7,530 shares during the period. Convergence Investment Partners LLC’s holdings in MasterCard were worth $3,798,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of MasterCard during the first quarter worth approximately $106,000. Seven Bridges Advisors LLC bought a new position in shares of MasterCard during the second quarter worth approximately $109,000. Feltz Wealth PLAN Inc. bought a new position in shares of MasterCard during the second quarter worth approximately $121,000. Thompson Siegel & Walmsley LLC bought a new position in shares of MasterCard during the second quarter worth approximately $125,000. Finally, First New York Securities LLC NY increased its position in shares of MasterCard by 2,450.0% in the second quarter. First New York Securities LLC NY now owns 1,530 shares of the company’s stock worth $135,000 after buying an additional 1,470 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.
Shares of MasterCard Inc. (NYSE:MA) opened at 101.16 on Tuesday. The company’s 50-day moving average price is $97.89 and its 200-day moving average price is $95.09. The company has a market capitalization of $111.05 billion, a PE ratio of 29.67 and a beta of 1.15. MasterCard Inc. has a 1-year low of $78.52 and a 1-year high of $102.23.
MasterCard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.06. MasterCard had a return on equity of 66.32% and a net margin of 37.39%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that MasterCard Inc. will post $3.63 earnings per share for the current fiscal year.
A number of analysts have issued reports on MA shares. Vetr cut shares of MasterCard from a “buy” rating to a “hold” rating and set a $105.86 target price for the company. in a research note on Thursday, September 22nd. Pacific Crest set a $110.00 price objective on shares of MasterCard and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Bank of America Corp. set a $103.00 price objective on shares of MasterCard and gave the stock a “hold” rating in a research note on Thursday, September 8th. Argus restated a “hold” rating on shares of MasterCard in a research note on Thursday, September 8th. Finally, Jefferies Group restated a “buy” rating and issued a $112.00 price objective on shares of MasterCard in a research note on Thursday, September 8th. Eight analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $109.55.
In other news, major shareholder Foundation Mastercard sold 84,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $91.17, for a total transaction of $7,658,280.00. Following the completion of the sale, the insider now owns 115,148,971 shares in the company, valued at $10,498,131,686.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Reeg sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $94.79, for a total value of $568,740.00. Following the sale, the insider now owns 53,501 shares of the company’s stock, valued at approximately $5,071,359.79. The disclosure for this sale can be found here. 3.14% of the stock is owned by company insiders.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world. The Company operates through payment solutions segment. The Company allows user to make payments by a range of payment solutions and services using various brands, which include MasterCard, Maestro and Cirrus.
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