Mattel, Inc. (NASDAQ:MAT) Downgraded by BidaskClub to “Strong Sell”
Mattel, Inc. (NASDAQ:MAT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.
Other analysts also recently issued research reports about the company. UBS AG reiterated a “buy” rating and set a $29.00 price target on shares of Mattel in a research note on Friday, May 19th. BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. B. Riley reiterated a “buy” rating and set a $30.50 price target on shares of Mattel in a research note on Wednesday, April 26th. DA Davidson downgraded Mattel from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $24.00 in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of Mattel in a research note on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.53.
Mattel (MAT) opened at 17.51 on Friday. The stock has a market capitalization of $6.00 billion, a PE ratio of 25.12 and a beta of 0.84. The firm has a 50-day moving average price of $20.30 and a 200 day moving average price of $23.21. Mattel has a 12 month low of $17.46 and a 12 month high of $34.20.
Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. The firm had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. Equities analysts anticipate that Mattel will post $0.80 earnings per share for the current year.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division increased its position in shares of Mattel by 0.3% in the first quarter. Moody National Bank Trust Division now owns 20,672 shares of the company’s stock worth $529,000 after buying an additional 57 shares in the last quarter. Bollard Group LLC increased its position in shares of Mattel by 1.5% in the first quarter. Bollard Group LLC now owns 4,200 shares of the company’s stock worth $108,000 after buying an additional 62 shares in the last quarter. Ledyard National Bank increased its position in shares of Mattel by 5,136.7% in the first quarter. Ledyard National Bank now owns 15,710 shares of the company’s stock worth $402,000 after buying an additional 15,410 shares in the last quarter. Granite Investment Advisors LLC increased its position in shares of Mattel by 13.3% in the first quarter. Granite Investment Advisors LLC now owns 268,258 shares of the company’s stock worth $6,870,000 after buying an additional 31,503 shares in the last quarter. Finally, DnB Asset Management AS increased its position in shares of Mattel by 10.4% in the first quarter. DnB Asset Management AS now owns 54,118 shares of the company’s stock worth $1,386,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.
Mattel Company Profile
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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