Mastercard (NYSE:MA) was upgraded by equities research analysts at Sandler O’Neill from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Several other equities analysts also recently issued reports on the stock. Loop Capital upped their price objective on shares of Mastercard to $167.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and set a $165.00 price objective on shares of Mastercard in a report on Tuesday, October 31st. Sanford C. Bernstein restated a “buy” rating and set a $166.00 price objective (up previously from $145.00) on shares of Mastercard in a report on Monday, October 30th. They noted that the move was a valuation call. Piper Jaffray Companies restated a “buy” rating and set a $161.00 price objective on shares of Mastercard in a report on Friday, October 13th. Finally, Cowen restated a “buy” rating and set a $137.00 price objective on shares of Mastercard in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have issued a buy rating to the stock. Mastercard presently has an average rating of “Buy” and a consensus target price of $164.92.
Shares of Mastercard (MA) traded up $3.93 during trading on Thursday, reaching $172.93. 6,838,195 shares of the company’s stock were exchanged, compared to its average volume of 3,420,353. The company has a market capitalization of $183,700.00, a P/E ratio of 40.31, a PEG ratio of 1.81 and a beta of 1.21. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.66. Mastercard has a fifty-two week low of $104.61 and a fifty-two week high of $176.71.
Mastercard announced that its board has approved a stock buyback program on Monday, December 4th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total value of $2,606,122.27. Following the sale, the insider now owns 47,901 shares in the company, valued at approximately $7,271,850.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MA. Massey Quick Simon & CO. LLC purchased a new position in shares of Mastercard during the 3rd quarter valued at approximately $102,000. Thompson Davis & CO. Inc. lifted its position in shares of Mastercard by 170.1% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after buying an additional 546 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Mastercard during the 3rd quarter valued at approximately $106,000. Proficio Capital Partners LLC lifted its position in shares of Mastercard by 1.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after buying an additional 12 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Mastercard during the 2nd quarter valued at approximately $121,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
About Mastercard
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.
