Stock Traders Purchase Large Volume of Put Options on Mattel (MAT)
Mattel, Inc. (NASDAQ:MAT) saw some unusual options trading activity on Friday. Stock traders purchased 7,498 put options on the stock. This is an increase of 172% compared to the typical volume of 2,753 put options.
MAT has been the subject of several research reports. DA Davidson lowered their target price on Mattel from $14.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, September 22nd. UBS AG reissued a “buy” rating and set a $23.00 price target on shares of Mattel in a research report on Saturday, September 16th. BidaskClub upgraded Mattel from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 14th. Jefferies Group LLC restated a “hold” rating and set a $17.00 price target on shares of Mattel in a research note on Thursday, September 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 price objective on shares of Mattel in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.12.
In related news, CEO Mary Margaret Hasti Georgiadis bought 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, for a total transaction of $248,262.60. Following the purchase, the chief executive officer now directly owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC boosted its position in shares of Mattel by 5,624.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,660 shares of the company’s stock worth $302,000 after acquiring an additional 1,631 shares in the last quarter. Highlander Capital Management LLC purchased a new position in shares of Mattel in the 2nd quarter valued at about $105,000. Penserra Capital Management LLC increased its holdings in shares of Mattel by 26.6% in the 2nd quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after acquiring an additional 1,287 shares during the last quarter. Delta Asset Management LLC TN increased its holdings in shares of Mattel by 54.7% in the 2nd quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock valued at $133,000 after acquiring an additional 2,175 shares during the last quarter. Finally, First Interstate Bank increased its holdings in shares of Mattel by 237.1% in the 1st quarter. First Interstate Bank now owns 6,682 shares of the company’s stock valued at $171,000 after acquiring an additional 4,700 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.
Mattel (MAT) traded down 3.0665% during trading on Monday, reaching $15.0053. 748,908 shares of the company’s stock traded hands. Mattel has a 12-month low of $14.39 and a 12-month high of $33.23. The company has a 50 day moving average price of $16.82 and a 200-day moving average price of $21.28. The company has a market cap of $5.14 billion, a PE ratio of 21.5284 and a beta of 0.86.
Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). Mattel had a return on equity of 11.62% and a net margin of 4.51%. The company had revenue of $974.50 million for the quarter, compared to analyst estimates of $972.36 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Mattel will post $0.78 EPS for the current fiscal year.
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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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