Bank of New York Mellon Corp trimmed its holdings in Mattel, Inc. (NASDAQ:MAT) by 51.2% in the second quarter, Holdings Channel reports. The institutional investor owned 2,504,768 shares of the company’s stock after selling 2,632,491 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mattel were worth $41,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Andra AP fonden boosted its stake in Mattel by 13.3% during the second quarter. Andra AP fonden now owns 281,400 shares of the company’s stock worth $4,621,000 after buying an additional 33,100 shares during the period. Verition Fund Management LLC purchased a new position in Mattel during the second quarter worth about $222,000. Jane Street Group LLC boosted its stake in Mattel by 3.2% during the second quarter. Jane Street Group LLC now owns 180,993 shares of the company’s stock worth $2,972,000 after buying an additional 5,694 shares during the period. Lingohr & Partner Asset Management GmbH purchased a new position in Mattel during the second quarter worth about $243,000. Finally, Tower Research Capital LLC TRC boosted its stake in Mattel by 38,663.8% during the second quarter. Tower Research Capital LLC TRC now owns 18,219 shares of the company’s stock worth $299,000 after buying an additional 18,172 shares during the period.

MAT has been the topic of several research reports. Zacks Investment Research cut shares of Mattel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. DA Davidson reduced their price target on shares of Mattel from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. BidaskClub cut shares of Mattel from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Jefferies Financial Group set a $13.00 price target on shares of Mattel and gave the stock a “hold” rating in a research report on Sunday, October 28th. Finally, UBS Group reduced their price target on shares of Mattel from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.56.

Shares of MAT opened at $13.12 on Thursday. The stock has a market cap of $4.57 billion, a PE ratio of -12.15 and a beta of 1.10. Mattel, Inc. has a 1 year low of $12.21 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.21 and a current ratio of 1.70.

Mattel (NASDAQ:MAT) last issued its earnings results on Thursday, October 25th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. Mattel had a negative net margin of 17.99% and a negative return on equity of 65.25%. As a group, analysts predict that Mattel, Inc. will post -0.97 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This article was first posted by Daily Political and is the property of of Daily Political. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.dailypolitical.com/2018/11/22/bank-of-new-york-mellon-corp-sells-2632491-shares-of-mattel-inc-mat.html.

About Mattel

Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.

Recommended Story: How to calculate the annual rate of depreciation

Want to see what other hedge funds are holding MAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mattel, Inc. (NASDAQ:MAT).

Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

Receive News & Ratings for Mattel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mattel and related companies with MarketBeat.com's FREE daily email newsletter.