Mattel Target of Unusually Large Options Trading (MAT)
Mattel, Inc. (NASDAQ:MAT) was the target of unusually large options trading on Tuesday. Stock investors purchased 6,515 put options on the company. This represents an increase of 258% compared to the typical daily volume of 1,819 put options.
In related news, Director Dean A. Scarborough bought 47,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average cost of $21.95 per share, for a total transaction of $1,031,650.00. Following the acquisition, the director now directly owns 77,573 shares of the company’s stock, valued at approximately $1,702,727.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock worth $919,097,000 after buying an additional 34,807,257 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Mattel during the fourth quarter worth about $90,008,000. American Century Companies Inc. boosted its position in Mattel by 100.0% in the first quarter. American Century Companies Inc. now owns 5,198,506 shares of the company’s stock worth $133,134,000 after buying an additional 2,599,325 shares during the period. Norges Bank purchased a new position in Mattel during the fourth quarter worth about $65,976,000. Finally, Credit Suisse AG boosted its position in Mattel by 165.6% in the first quarter. Credit Suisse AG now owns 3,131,042 shares of the company’s stock worth $80,186,000 after buying an additional 1,951,994 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.
Mattel (NASDAQ:MAT) last released its earnings results on Thursday, April 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.15. The firm had revenue of $735.60 million for the quarter, compared to the consensus estimate of $797.60 million. Mattel had a return on equity of 13.19% and a net margin of 5.22%. Mattel’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS.
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 19th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Wednesday, May 17th. Mattel’s dividend payout ratio (DPR) is presently 192.41%.
A number of research analysts have recently weighed in on MAT shares. Stifel Nicolaus reiterated a “hold” rating and set a $26.00 price target on shares of Mattel in a report on Sunday, April 23rd. B. Riley reiterated a “buy” rating and set a $30.50 price target (down previously from $35.00) on shares of Mattel in a report on Friday, April 21st. Zacks Investment Research upgraded Mattel from a “sell” rating to a “hold” rating in a report on Friday, April 7th. BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a report on Wednesday, June 7th. Finally, MKM Partners reiterated a “neutral” rating and set a $24.00 price target (down previously from $27.00) on shares of Mattel in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Mattel has an average rating of “Hold” and a consensus target price of $29.89.
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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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