Kornitzer Capital Management Inc. KS Grows Position in Mastercard Incorporated (NYSE:MA)

Kornitzer Capital Management Inc. KS boosted its stake in Mastercard Incorporated (NYSE:MA) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,640 shares of the credit services provider’s stock after buying an additional 612 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Mastercard were worth $12,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MA. Measured Risk Portfolios Inc. bought a new stake in Mastercard in the 4th quarter valued at about $31,000. Navigoe LLC bought a new position in Mastercard during the fourth quarter worth about $33,000. 10Elms LLP bought a new position in Mastercard during the fourth quarter worth about $33,000. Hughes Financial Services LLC bought a new position in Mastercard during the first quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Mastercard during the fourth quarter worth about $36,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE:MA opened at $553.12 on Tuesday. The business has a 50 day moving average of $568.26 and a 200 day moving average of $547.98. The company has a market capitalization of $504.28 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.39 and a beta of 1.02. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. The business had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 EPS. On average, sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.55%. Mastercard’s dividend payout ratio (DPR) is currently 21.32%.

Insider Buying and Selling

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the transaction, the insider directly owned 12,921 shares of the company’s stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $572.86, for a total value of $549,372.74. Following the transaction, the insider directly owned 25,540 shares in the company, valued at $14,630,844.40. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,753 shares of company stock valued at $20,351,084 over the last quarter. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MA. Truist Financial began coverage on shares of Mastercard in a research report on Monday, June 2nd. They set a “buy” rating and a $640.00 target price for the company. Jefferies Financial Group restated a “buy” rating on shares of Mastercard in a research note on Friday, June 6th. UBS Group raised their target price on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Wolfe Research set a $655.00 target price on Mastercard in a research note on Monday, June 23rd. Finally, Wall Street Zen downgraded Mastercard from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.50.

Mastercard Profile

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.