Corundum Group Inc. Lowers Position in Mastercard Incorporated (NYSE:MA)

Corundum Group Inc. lessened its stake in shares of Mastercard Incorporated (NYSE:MA) by 45.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,681 shares of the credit services provider’s stock after selling 1,381 shares during the period. Corundum Group Inc.’s holdings in Mastercard were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewSquare Capital LLC purchased a new stake in shares of Mastercard in the fourth quarter worth $26,000. Measured Risk Portfolios Inc. bought a new position in Mastercard in the 4th quarter worth $31,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Mastercard in the 4th quarter worth $32,000. 10Elms LLP purchased a new position in shares of Mastercard in the fourth quarter valued at about $33,000. Finally, Navigoe LLC bought a new position in shares of Mastercard in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In other news, insider Sandra A. Arkell sold 150 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $569.45, for a total transaction of $85,417.50. Following the sale, the insider now owns 3,555 shares of the company’s stock, valued at $2,024,394.75. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Vosburg sold 14,051 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the completion of the transaction, the insider now owns 58,451 shares of the company’s stock, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,115 shares of company stock valued at $18,324,718 in the last ninety days. Insiders own 0.09% of the company’s stock.

Mastercard Price Performance

NYSE MA opened at $557.69 on Wednesday. The company has a market cap of $508.45 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $561.13 and its 200 day moving average price is $545.00. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The business had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the company earned $3.31 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s payout ratio is 21.32%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MA shares. KeyCorp lifted their price target on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. UBS Group upped their price target on shares of Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Mastercard in a research note on Friday, June 6th. Wall Street Zen downgraded Mastercard from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Finally, Macquarie decreased their price target on Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $610.00.

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.