Ameriprise Financial Inc. Lowers Position in Mattel, Inc. (MAT)
Ameriprise Financial Inc. lowered its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 13.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 868,912 shares of the company’s stock after selling 130,607 shares during the quarter. Ameriprise Financial Inc. owned about 0.25% of Mattel worth $18,685,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in 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 buying an additional 1,287 shares during the period. Delta Asset Management LLC TN lifted its stake 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 worth $133,000 after acquiring an additional 2,175 shares during the period. First Interstate Bank lifted its stake in shares of Mattel by 237.1% in the 1st quarter. First Interstate Bank now owns 6,682 shares of the company’s stock worth $171,000 after acquiring an additional 4,700 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Mattel by 11.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 9,764 shares of the company’s stock worth $210,000 after acquiring an additional 1,003 shares during the period. Finally, Cleararc Capital Inc. lifted its stake in shares of Mattel by 0.8% in the 1st quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock worth $215,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Shares of Mattel, Inc. (NASDAQ MAT) opened at 15.38 on Tuesday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 22.07 and a beta of 0.86. The firm has a 50-day moving average price of $15.89 and a 200 day moving average price of $20.60. Mattel, Inc. has a 12-month low of $14.35 and a 12-month high of $33.23.
Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, July 27th. The company reported ($0.14) EPS 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 the consensus estimate of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. Mattel’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. On average, equities research analysts anticipate that Mattel, Inc. will post $0.78 earnings per share for the current fiscal year.
MAT has been the topic of a number of recent analyst reports. UBS AG reiterated a “buy” rating and set a $26.00 price target (down from $29.00) on shares of Mattel in a research note on Wednesday, June 21st. Stifel Nicolaus reissued a “hold” rating on shares of Mattel in a report on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective on shares of Mattel in a research report on Monday, June 19th. DA Davidson downgraded shares of Mattel from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $24.00 in a research report on Thursday, June 15th. Finally, BidaskClub lowered Mattel from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mattel presently has a consensus rating of “Hold” and a consensus price target of $24.12.
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In other news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the transaction, the chief executive officer now owns 116,788 shares in the company, valued at $2,290,212.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% 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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