Lakewood Capital Management LP Has $169.03 Million Stake in Mastercard Incorporated (NYSE:MA)
Lakewood Capital Management LP boosted its position in Mastercard Incorporated (NYSE:MA) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,502,927 shares of the credit services provider’s stock after buying an additional 50,000 shares during the period. Mastercard comprises about 7.0% of Lakewood Capital Management LP’s holdings, making the stock its 6th largest position. Lakewood Capital Management LP’s holdings in Mastercard were worth $169,034,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Glassman Wealth Services increased its stake in shares of Mastercard by 0.3% in the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after buying an additional 6 shares during the last quarter. Genesee Valley Trust Co. increased its stake in shares of Mastercard by 0.3% in the first quarter. Genesee Valley Trust Co. now owns 6,246 shares of the credit services provider’s stock valued at $702,000 after buying an additional 18 shares during the last quarter. Concert Wealth Management Inc. increased its stake in shares of Mastercard by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock valued at $664,000 after buying an additional 18 shares during the last quarter. Welch Group LLC increased its stake in shares of Mastercard by 1.2% in the first quarter. Welch Group LLC now owns 1,625 shares of the credit services provider’s stock valued at $183,000 after buying an additional 20 shares during the last quarter. Finally, Intellectus Partners LLC increased its stake in shares of Mastercard by 1.0% in the first quarter. Intellectus Partners LLC now owns 2,378 shares of the credit services provider’s stock valued at $267,000 after buying an additional 24 shares during the last quarter. Institutional investors own 75.76% of the company’s stock.
Mastercard Incorporated (NYSE:MA) traded down 0.94% during midday trading on Thursday, hitting $128.50. The stock had a trading volume of 424,558 shares. The company’s 50 day moving average price is $126.31 and its 200-day moving average price is $117.29. Mastercard Incorporated has a 52-week low of $94.41 and a 52-week high of $132.20. The stock has a market cap of $136.84 billion, a PE ratio of 31.89 and a beta of 1.17.
Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. Mastercard’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. Analysts forecast that Mastercard Incorporated will post $4.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Wednesday, July 5th. Mastercard’s dividend payout ratio (DPR) is presently 21.78%.
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Several analysts have weighed in on MA shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Mastercard in a research report on Friday, April 14th. Morgan Stanley boosted their price objective on Mastercard from $124.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. Instinet boosted their price objective on Mastercard from $133.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Mastercard from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 price objective (up previously from $124.00) on shares of Mastercard in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $128.20.
In other news, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction on Monday, July 17th. The stock was sold at an average price of $126.60, for a total value of $11,092,438.80. Following the transaction, the insider now directly owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the completion of the transaction, the chief financial officer now owns 170,570 shares in the company, valued at $22,138,280.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 762,845 shares of company stock valued at $98,241,535. 0.30% of the stock is currently owned by corporate insiders.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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