Mastercard (NYSE:MA) Cut to “Neutral” at Monness Crespi & Hardt

Mastercard (NYSE:MA) was downgraded by investment analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

Several other analysts also recently issued reports on the company. Oppenheimer reduced their price objective on Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.96.

Mastercard Price Performance

Shares of MA opened at $499.96 on Wednesday. The firm has a market capitalization of $455.81 billion, a PE ratio of 35.99, a P/E/G ratio of 2.37 and a beta of 1.06. The stock’s 50 day moving average is $543.80 and its two-hundred day moving average is $528.13. Mastercard has a twelve month low of $428.86 and a twelve month high of $582.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Research analysts anticipate that Mastercard will post 15.91 earnings per share for the current year.

Mastercard declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Michael Miebach sold 15,775 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at $46,692,629.36. This trade represents a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

A number of large investors have recently bought and sold shares of MA. NewSquare Capital LLC acquired a new position in shares of Mastercard during the fourth quarter valued at $26,000. Measured Risk Portfolios Inc. acquired a new position in Mastercard during the fourth quarter worth about $31,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Mastercard in the 4th quarter worth approximately $32,000. Marshall Investment Management LLC acquired a new stake in Mastercard during the fourth quarter valued at approximately $30,000. Finally, 10Elms LLP bought a new stake in Mastercard during the fourth quarter worth approximately $33,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Company 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.