Mattel (MAT) Debt Trading 1% Higher
An issue of Mattel, Inc. (NASDAQ:MAT) bonds rose 1% as a percentage of their face value during trading on Wednesday. The high-yield issue of debt has a 5.45% coupon and is set to mature on November 1, 2041. The bonds in the issue are now trading at $91.00 and were trading at $88.47 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.
Several equities research analysts have weighed in on MAT shares. UBS Group set a $22.00 price target on Mattel and gave the stock a “buy” rating in a research report on Friday, October 27th. Citigroup increased their price target on Mattel from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. TheStreet downgraded Mattel from a “c” rating to a “d” rating in a research report on Thursday, October 26th. Barclays increased their price target on Mattel from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Finally, ValuEngine raised Mattel from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Mattel presently has an average rating of “Hold” and an average target price of $18.67.
Mattel, Inc. (NASDAQ MAT) traded up $0.55 during mid-day trading on Wednesday, hitting $17.02. 4,447,096 shares of the stock traded hands, compared to its average volume of 6,980,000. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.55 and a current ratio of 1.92. Mattel, Inc. has a twelve month low of $12.71 and a twelve month high of $26.30. The stock has a market cap of $5,850.00, a price-to-earnings ratio of -5.56, a P/E/G ratio of 13.82 and a beta of 1.00.
A number of institutional investors have recently modified their holdings of MAT. Parnassus Investments CA lifted its stake in Mattel by 92.5% in the 3rd quarter. Parnassus Investments CA now owns 16,064,364 shares of the company’s stock valued at $248,676,000 after buying an additional 7,719,364 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Mattel by 20.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,201,338 shares of the company’s stock valued at $204,357,000 after buying an additional 2,253,399 shares in the last quarter. Franklin Resources Inc. lifted its stake in Mattel by 102.2% in the 4th quarter. Franklin Resources Inc. now owns 3,112,937 shares of the company’s stock valued at $47,877,000 after buying an additional 1,573,028 shares in the last quarter. Sei Investments Co. lifted its stake in Mattel by 144.8% in the 4th quarter. Sei Investments Co. now owns 2,142,172 shares of the company’s stock valued at $32,946,000 after buying an additional 1,266,982 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in Mattel by 147.9% in the 3rd quarter. Chartwell Investment Partners LLC now owns 1,480,600 shares of the company’s stock valued at $22,919,000 after buying an additional 883,305 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
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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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