Voya Investment Management LLC Trims Position in Mattel, Inc. (MAT)
Voya Investment Management LLC decreased its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 14.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,681 shares of the company’s stock after selling 31,755 shares during the period. Voya Investment Management LLC owned 0.06% of Mattel worth $4,170,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Intact Investment Management Inc. raised its holdings in Mattel by 14.0% during the 2nd quarter. Intact Investment Management Inc. now owns 93,100 shares of the company’s stock worth $2,004,000 after purchasing an additional 11,400 shares during the last quarter. Aberdeen Asset Management PLC UK raised its holdings in Mattel by 43.8% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 147,083 shares of the company’s stock worth $3,167,000 after purchasing an additional 44,802 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in Mattel by 31.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 298,972 shares of the company’s stock worth $6,437,000 after purchasing an additional 70,840 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in Mattel during the 2nd quarter worth about $287,000. Finally, Penserra Capital Management LLC raised its holdings in Mattel by 26.6% during the 2nd quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock worth $131,000 after purchasing an additional 1,287 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.
In related news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $19.61 per share, with a total value of $248,262.60. Following the completion of the transaction, the chief executive officer now directly owns 116,788 shares in the company, valued at $2,290,212.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.
Several brokerages have weighed in on MAT. UBS AG reissued a “buy” rating and set a $26.00 price objective (down from $29.00) on shares of Mattel in a report on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating and set a $19.00 price objective on shares of Mattel in a report on Monday, June 19th. DA Davidson cut Mattel from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $24.00 in a report on Thursday, June 15th. Stifel Nicolaus reissued a “hold” rating and set a $19.00 price objective on shares of Mattel in a report on Thursday. Finally, Monness Crespi & Hardt dropped their price objective on Mattel from $29.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Mattel currently has a consensus rating of “Hold” and a consensus price target of $23.57.
Mattel (NASDAQ:MAT) last released its quarterly earnings data 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 net margin of 4.51% and a return on equity of 11.62%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS.
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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