Mastercard (MA) Receives Buy Rating from Sanford C. Bernstein
Mastercard (NYSE:MA)‘s stock had its “buy” rating reaffirmed by Sanford C. Bernstein in a research report issued to clients and investors on Monday. They presently have a $180.00 price target on the credit services provider’s stock, up from their previous price target of $166.00. Sanford C. Bernstein’s target price suggests a potential upside of 19.30% from the company’s current price.
A number of other research analysts have also commented on MA. Zacks Investment Research lowered shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Wedbush reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $129.00) on shares of Mastercard in a report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating and issued a $137.00 target price on shares of Mastercard in a report on Friday, September 8th. Finally, Credit Suisse Group lifted their target price on shares of Mastercard from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Two equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $159.69.
Mastercard (NYSE:MA) traded up $0.99 during midday trading on Monday, reaching $150.88. 3,394,800 shares of the company’s stock were exchanged, compared to its average volume of 3,218,526. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $158,682.84, a price-to-earnings ratio of 34.78, a PEG ratio of 2.00 and a beta of 1.20. Mastercard has a one year low of $102.91 and a one year high of $154.65.
Mastercard announced that its board has approved a share repurchase program on Monday, December 4th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other Mastercard news, insider Craig Vosburg sold 14,200 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the sale, the insider now owns 40,646 shares of the company’s stock, valued at $5,766,041.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Fraccaro sold 5,800 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,000 shares of company stock worth $3,582,984. 0.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Shelton Capital Management raised its position in shares of Mastercard by 163.1% in the third quarter. Shelton Capital Management now owns 40,325 shares of the credit services provider’s stock valued at $5,694,000 after buying an additional 25,000 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Mastercard in the third quarter valued at approximately $1,024,000. Public Employees Retirement System of Ohio raised its position in shares of Mastercard by 30.4% in the third quarter. Public Employees Retirement System of Ohio now owns 846,002 shares of the credit services provider’s stock valued at $119,455,000 after buying an additional 197,182 shares during the last quarter. Coastline Trust Co raised its position in shares of Mastercard by 9.0% in the third quarter. Coastline Trust Co now owns 11,965 shares of the credit services provider’s stock valued at $1,690,000 after buying an additional 990 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of Mastercard in the third quarter valued at approximately $359,000. 75.81% of the stock is currently owned by institutional investors.
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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