Mastercard Inc (MA) Teams With Coin For Wearable Commerce

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Mastercard Inc (NYSE:MA) today announced that they have partnered with Coin to help bring commerce-enabling technology to wearables such as sunglasses, gloves, rings, clothing and more.

Coin, which is a realtively new company that has aimed to consolidate all credit cards into a single device, may be a bit of an odd partner for Mastercard Inc (NYSE:MA), but apparently the deal makes sense.

“The great thing about the MasterCard program is that we are adding payment functionality to items that consumers are already using – fitness bands, jewelry, clothing, watches,” said Sherri Haymond, Senior Vice President of Digital Payments for MasterCard. “This makes the products more useful for consumers and enhances the value device manufacturers can deliver to their customers. Coin complements that approach and enables us to reach an expanded set of device partners.”

Companies such as Moov, Atlas Wearables, Omate and others will be the first to work with Mastercard and Coin on these new initiatives. The stock increased 0.21% or $0.2 during the last trading session, hitting $95. About 2,766 shares traded hands. MA has risen 1.95% since June 2, 2015 and is uptrending. It has outperformed the S&P500 by 6.64%.

From a total of 14 analysts covering Mastercard Incorporated (NYSE:MA) stock, 11 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 79% of the ratings are positive. The highest target price is $124 while the lowest target price is $97.62. The mean of all analyst targets is $108.76 which is 14.48% above today’s ($95) stock price. Mastercard Incorporated was the topic of 19 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on December 31 with a “Overweight” rating. Guggenheim initiated shares with a”Buy” rating and a $105 target share price in their report from an October 8. UBS initiated MA stock in a recent report from December 16 with a “Buy” rating. Cowen & Co initiated the rating on September 30. Cowen & Co has a “Outperform” rating and a $110 price target on shares. Finally, Wedbush maintained the stock with a “Neutral” rating in a report they issued on an October 30.

The institutional sentiment increased to 1.32 in Q2 2015. It’s up 0.19, from 1.13 in 2015Q2. The ratio increased, as 51 funds sold all their Mastercard Inc shares they owned while 358 reduced their positions. 84 funds bought stakes while 456 increased their total positions. Institutions now own 783.35 million shares which is 8.28% less than the previous share count of 854.08 million in 2015Q2.

Vgi Partners Pty Ltd holds 16.75% of its total portfolio in Mastercard Inc, equating to 461,926 shares. Deccan Value Investors L.P. owns 1.04 million shares representing 15.97% of their total US portfolio. Moreover, Farley Capital Ii L.P. has 15.42% of their total portfolio invested in the company, equating to 215,815 shares. The New York-based Arrow Capital Management Llc has a total of 11.93% of their portfolio invested in the stock. Night Owl Capital Management Llc, a Connecticut-based fund reported 181,171 shares owned.

Since March 10, 2015, the stock had 0 buys, and 16 selling transactions for a total of $35.70 million in net activity. Mastercard Foundation sold 13,245 shares worth $1.31 million. Haythornthwaite Richard sold 3,000 shares worth $271,611. Flood Gary J sold 19,400 shares worth $1.88M. Tian Edward sold 10,500 shares worth $1.02 million. The insider Hundmejean Martina sold 76,865 shares worth $7.52M.

MasterCard Incorporated is a technology firm in the global payments industry. The company has a market cap of $106.65 billion. The Firm connects consumers, financial institutions, merchants, Governments and businesses around the world, enabling them to use electronic forms of payment instead of cash and checks. It has 29.27 P/E ratio. The Company’s brands include MasterCard, Maestro and Cirrus.

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