Bornite Capital Management LP Acquires New Position in Mastercard Incorporated (NYSE:MA)

Bornite Capital Management LP acquired a new stake in Mastercard Incorporated (NYSE:MA) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,000 shares of the credit services provider’s stock, valued at approximately $14,447,000. Mastercard comprises approximately 2.4% of Bornite Capital Management LP’s holdings, making the stock its 17th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Mastercard during the fourth quarter valued at approximately $26,000. VitalStone Financial LLC grew its holdings in shares of Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in shares of Mastercard during the fourth quarter valued at approximately $27,000. Westend Capital Management LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $27,000. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Up 0.7 %

NYSE:MA traded up $3.12 during trading hours on Monday, hitting $441.30. 2,047,030 shares of the stock traded hands, compared to its average volume of 2,489,625. The firm has a 50 day moving average price of $446.14 and a 200 day moving average price of $456.18. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $490.00. The firm has a market cap of $410.24 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 1.73 and a beta of 1.09.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the business earned $2.80 EPS. The company’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Mastercard Incorporated will post 14.25 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 9th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.60%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio (DPR) is currently 20.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen assumed coverage on Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 price objective for the company. Morgan Stanley reduced their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Mizuho reduced their price objective on Mastercard from $480.00 to $478.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Piper Sandler assumed coverage on Mastercard in a research report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $501.23.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now directly owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now directly owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Vosburg sold 9,028 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $447.28, for a total transaction of $4,038,043.84. Following the completion of the transaction, the insider now directly owns 58,940 shares in the company, valued at $26,362,683.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,720,228 shares of company stock valued at $1,224,758,080. 0.10% of the stock is owned by 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.