Mattel (NASDAQ:MAT) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Mattel (NASDAQ:MAT) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other brokerages have also issued reports on MAT. Bank of America increased their price objective on Mattel from $25.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Citigroup increased their price objective on Mattel from $25.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, April 24th. DA Davidson reissued a buy rating and issued a $27.00 price objective on shares of Mattel in a report on Monday, July 22nd. Finally, Roth Mkm reaffirmed a neutral rating and set a $21.00 price target on shares of Mattel in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Mattel presently has a consensus rating of Hold and an average price target of $22.63.

Mattel Trading Up 1.4 %

Shares of MAT opened at $19.17 on Wednesday. The company has a market capitalization of $6.60 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.24 and a beta of 0.86. Mattel has a one year low of $15.87 and a one year high of $22.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.88 and a current ratio of 2.58. The stock has a 50-day moving average price of $17.22 and a 200 day moving average price of $18.31.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Mattel’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that Mattel will post 1.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steve Totzke sold 23,662 shares of Mattel stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $18.89, for a total value of $446,975.18. Following the transaction, the insider now directly owns 152,018 shares in the company, valued at $2,871,620.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $18.83, for a total transaction of $407,763.65. Following the transaction, the executive vice president now directly owns 106,086 shares in the company, valued at $1,997,599.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steve Totzke sold 23,662 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total value of $446,975.18. Following the transaction, the insider now owns 152,018 shares in the company, valued at $2,871,620.02. The disclosure for this sale can be found here. Insiders sold 90,533 shares of company stock valued at $1,709,321 over the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Mattel

Several large investors have recently modified their holdings of MAT. Norges Bank bought a new stake in shares of Mattel in the 4th quarter valued at approximately $71,256,000. Capital International Investors boosted its holdings in shares of Mattel by 7.4% in the 4th quarter. Capital International Investors now owns 18,386,007 shares of the company’s stock worth $347,128,000 after acquiring an additional 1,272,018 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Mattel by 12.9% in the 4th quarter. Victory Capital Management Inc. now owns 7,541,422 shares of the company’s stock worth $142,382,000 after acquiring an additional 861,638 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Mattel in the 4th quarter worth approximately $15,642,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Mattel by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,039,571 shares of the company’s stock worth $76,272,000 after acquiring an additional 716,558 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

About Mattel

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.