Summit X LLC Buys 8,111 Shares of Mastercard Inc (NYSE:MA)

Summit X LLC increased its stake in Mastercard Inc (NYSE:MA) by 79.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,262 shares of the credit services provider’s stock after buying an additional 8,111 shares during the quarter. Mastercard makes up 2.0% of Summit X LLC’s holdings, making the stock its 8th biggest position. Summit X LLC’s holdings in Mastercard were worth $4,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Iberiabank Corp boosted its position in Mastercard by 1.4% during the fourth quarter. Iberiabank Corp now owns 2,562 shares of the credit services provider’s stock worth $765,000 after acquiring an additional 35 shares during the last quarter. Keel Point LLC lifted its stake in Mastercard by 1.3% in the 4th quarter. Keel Point LLC now owns 2,975 shares of the credit services provider’s stock worth $888,000 after purchasing an additional 38 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Mastercard by 0.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,987 shares of the credit services provider’s stock worth $1,688,000 after purchasing an additional 38 shares during the last quarter. Princeton Capital Management LLC grew its position in shares of Mastercard by 0.8% in the fourth quarter. Princeton Capital Management LLC now owns 5,217 shares of the credit services provider’s stock valued at $1,706,000 after purchasing an additional 40 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in shares of Mastercard by 14.0% in the first quarter. Independence Bank of Kentucky now owns 325 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 40 shares in the last quarter. 73.95% of the stock is owned by institutional investors and hedge funds.

Shares of Mastercard stock traded up $0.66 on Tuesday, reaching $302.06. 2,449,255 shares of the company were exchanged, compared to its average volume of 4,203,110. The stock’s 50 day moving average price is $276.06 and its 200-day moving average price is $288.84. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.87 and a quick ratio of 1.87. Mastercard Inc has a 1-year low of $199.99 and a 1-year high of $347.25. The company has a market cap of $302.02 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. Mastercard had a net margin of 46.75% and a return on equity of 149.02%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the business posted $1.78 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. On average, research analysts predict that Mastercard Inc will post 6.4 earnings per share for the current fiscal year.

In other news, Director Julius Genachowski sold 2,009 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $281.79, for a total transaction of $566,116.11. Following the sale, the director now owns 7,346 shares of the company’s stock, valued at approximately $2,070,029.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Freiberg sold 4,230 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $303.98, for a total value of $1,285,835.40. Following the sale, the director now owns 5,376 shares of the company’s stock, valued at approximately $1,634,196.48. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by insiders.

MA has been the topic of a number of recent research reports. Stephens boosted their price objective on Mastercard from $286.00 to $304.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Tigress Financial restated a “buy” rating on shares of Mastercard in a research report on Wednesday, March 18th. Susquehanna Bancshares dropped their price target on shares of Mastercard from $355.00 to $330.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Guggenheim lowered shares of Mastercard from a “buy” rating to a “neutral” rating in a research report on Thursday, April 16th. Finally, Citigroup upped their price objective on Mastercard from $298.00 to $317.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $321.54.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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