Mattel, Inc. (MAT) Stock Rating Upgraded by BidaskClub
Mattel, Inc. (NASDAQ:MAT) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Thursday.
A number of other equities analysts also recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mattel in a report on Tuesday, May 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $25.00 price objective (down from $30.00) on shares of Mattel in a report on Friday, July 28th. UBS AG set a $26.00 price objective on shares of Mattel and gave the stock a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $17.00 price objective (down from $19.00) on shares of Mattel in a report on Friday, July 28th. Finally, MKM Partners cut their price objective on shares of Mattel from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.27.
Shares of Mattel (NASDAQ MAT) traded down 0.31% during mid-day trading on Thursday, reaching $16.05. 949,227 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $17.54 and its 200 day moving average price is $21.64. Mattel has a 52-week low of $15.17 and a 52-week high of $33.23. The company has a market cap of $5.50 billion, a PE ratio of 23.03 and a beta of 0.87.
Mattel (NASDAQ:MAT) last posted its quarterly earnings data 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). The firm had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. Mattel’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, equities research analysts predict that Mattel will post $0.79 EPS for the current year.
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In other Mattel news, CEO Mary Margaret Hasti Georgiadis acquired 12,660 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $19.61 per share, with a total value of $248,262.60. Following the completion of the acquisition, the chief executive officer now directly owns 116,788 shares in the company, valued at $2,290,212.68. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Highlander Capital Management LLC purchased a new stake in Mattel during the second quarter valued at about $105,000. Penserra Capital Management LLC lifted its holdings in Mattel by 26.6% during the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after purchasing an additional 1,287 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in Mattel by 54.7% during the second quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock valued at $133,000 after purchasing an additional 2,175 shares during the last quarter. First Interstate Bank lifted its holdings in Mattel by 237.1% during the first quarter. First Interstate Bank now owns 6,682 shares of the company’s stock valued at $171,000 after purchasing an additional 4,700 shares during the last quarter. Finally, ETF Managers Group LLC purchased a new stake in Mattel during the second quarter valued at about $195,000. 93.54% of the stock is currently owned by institutional investors and hedge funds.
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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