Mattel, Inc. (MAT) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of Mattel, Inc. (NASDAQ:MAT) from a strong sell rating to a sell rating in a report released on Thursday.
A number of other research analysts also recently issued reports on the stock. DA Davidson reiterated an underperform rating and set a $14.00 target price (down previously from $18.00) on shares of Mattel in a research report on Tuesday. Jefferies Group LLC reiterated a hold rating and set a $17.00 target price on shares of Mattel in a research report on Thursday, September 7th. Stifel Nicolaus reiterated a hold rating and set a $19.00 target price on shares of Mattel in a research report on Tuesday, September 5th. KeyCorp reiterated a sector weight rating on shares of Mattel in a research report on Thursday, August 31st. Finally, BMO Capital Markets reiterated an outperform rating and set a $25.00 target price (down previously from $30.00) on shares of Mattel in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $25.27.
Shares of Mattel (NASDAQ:MAT) traded up 0.32% during midday trading on Thursday, hitting $15.89. 3,590,419 shares of the company were exchanged. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 22.80 and a beta of 0.87. The firm’s 50 day moving average price is $17.25 and its 200 day moving average price is $21.56. Mattel has a one year low of $15.17 and a one year high of $33.23.
Mattel (NASDAQ:MAT) last released its earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). Mattel had a net margin of 4.51% and a return on equity of 11.62%. The company had revenue of $974.50 million for the quarter, compared to analyst estimates of $972.36 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts forecast that Mattel will post $0.79 EPS for the current fiscal year.
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In other Mattel news, CEO Mary Margaret Hasti Georgiadis acquired 12,660 shares of the stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the acquisition, the chief executive officer now owns 116,788 shares in the company, valued at approximately $2,290,212.68. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock valued at $919,097,000 after purchasing an additional 34,807,257 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Mattel by 2.0% in the second quarter. Vanguard Group Inc. now owns 34,329,879 shares of the company’s stock valued at $739,123,000 after purchasing an additional 662,676 shares during the last quarter. State Street Corp raised its holdings in shares of Mattel by 0.8% in the first quarter. State Street Corp now owns 14,773,530 shares of the company’s stock valued at $378,355,000 after purchasing an additional 117,584 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Mattel by 91.6% in the second quarter. American Century Companies Inc. now owns 9,958,114 shares of the company’s stock valued at $214,398,000 after purchasing an additional 4,759,608 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Mattel by 19,570.6% in the second quarter. Janus Henderson Group PLC now owns 9,617,527 shares of the company’s stock valued at $207,066,000 after purchasing an additional 9,568,634 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International, and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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