Prana Capital Management LP Has $60.53 Million Holdings in Mastercard Incorporated (NYSE:MA)

Prana Capital Management LP cut its stake in Mastercard Incorporated (NYSE:MA) by 49.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 122,572 shares of the credit services provider’s stock after selling 122,259 shares during the period. Mastercard accounts for 2.8% of Prana Capital Management LP’s portfolio, making the stock its 13th biggest position. Prana Capital Management LP’s holdings in Mastercard were worth $60,526,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in Mastercard in the third quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard in the second quarter worth approximately $34,000. Fairway Wealth LLC acquired a new stake in Mastercard in the second quarter valued at approximately $35,000. First Personal Financial Services bought a new stake in shares of Mastercard during the third quarter valued at approximately $39,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in shares of Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 1.0 %

MA opened at $526.18 on Wednesday. Mastercard Incorporated has a 12 month low of $404.32 and a 12 month high of $535.77. The company has a market cap of $482.94 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a 50 day moving average of $511.83 and a 200 day moving average of $477.41.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $3.39 earnings per share. On average, sell-side analysts expect that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is 19.97%.

Analyst Ratings Changes

Several research firms have weighed in on MA. UBS Group upped their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Robert W. Baird raised their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America boosted their price objective on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Susquehanna raised their target price on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average price target of $549.16.

Insider Activity at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate 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.