5 Best Cryptocurrency Stocks To Buy According To Hedge Funds

1. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 156

Mastercard Incorporated (NYSE:MA) recently revealed a new deal in its crypto segment by acquiring CipherTrace, a cryptocurrency intelligence company, to ensure the security of digital payments. The company tops our list of the best cryptocurrency stocks to buy according to hedge funds.

On September 20, Mastercard Incorporated (NYSE:MA) announced a quarterly dividend of  $0.44 per share, yielding 0.52%. The company has a track record of 7 years of dividend growth. In Q2, Mastercard Incorporated (NYSE:MA) posted an EPS of $1.95, beating the estimates by $0.20. This August, JPMorgan lifted its price target on the stock to $430, while keeping an Overweight rating on the shares.

In Q2 2021, the number of hedge funds tracked by Insider Monkey having stakes in Mastercard Incorporated (NYSE:MA) increased to 156, from 151 in the previous quarter. The total value of these stakes is over $17 billion.

Ensemble Capital mentioned Mastercard Incorporated (NYSE:MA) in its recently published Q3 2021 investor letter. Here is what the firm has to say:

“Mastercard: Mastercard’s role as a payment network has seen strong growth as the economic recovery around the world continues, and customers go back to more regular spending habits. Core spending growth of 38% against the highly impacted COVID affected quarter last year and 25% over 2019 levels are fueling revenue growth of 20%+ despite still depressed cross border fees, whose expected recovery from a resumption in travel, has been delayed by the Delta variant waves. In addition, a lot of news flow about potential rival small but fast-growing payment tech firms has dampened sentiment on the stock but we believe the bar is high for firms to compete instead of partnering with Mastercard to transact payments. The stock finished the quarter down 3% and is flat for the year.”

You can also take a look at 10 Best Cryptocurrencies to Invest in According to Hedge Fund Billionaires and 10 Biggest Cryptocurrency Predictions in 2021

Follow Insider Monkey on Twitter