Mattel (NASDAQ:MAT) Stock Crosses Above 200-Day Moving Average – Here’s Why

Mattel, Inc. (NASDAQ:MAT) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $15.44 and traded as high as $15.79. Mattel shares last traded at $15.57, with a volume of 6,213,932 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MAT shares. The Goldman Sachs Group downgraded shares of Mattel from a “neutral” rating to a “sell” rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Thursday, July 9th. Citigroup raised their price target on shares of Mattel from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, October 13th. UBS Group restated a “buy” rating on shares of Mattel in a research note on Thursday, October 1st. Roth Capital cut their price objective on Mattel from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, Weiss Ratings cut Mattel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Mattel Price Performance

The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.59. The company has a current ratio of 1.90, a quick ratio of 1.26 and a debt-to-equity ratio of 1.17. The company’s 50 day moving average is $15.02 and its 200 day moving average is $15.44.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Mattel had a net margin of 7.79% and a return on equity of 16.20%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Mattel, Inc. will post 1.30 EPS for the current fiscal year.

Insider Transactions at Mattel

In related news, EVP Roberto Isaias sold 39,083 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.02, for a total transaction of $587,026.66. Following the transaction, the executive vice president owned 144,390 shares in the company, valued at $2,168,737.80. This trade represents a 21.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mattel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP lifted its holdings in shares of Mattel by 1.7% during the first quarter. Entropy Technologies LP now owns 74,291 shares of the company’s stock worth $1,079,000 after purchasing an additional 1,265 shares during the period. GAMMA Investing LLC increased its stake in Mattel by 43.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,311 shares of the company’s stock valued at $55,000 after buying an additional 1,297 shares during the period. State of Michigan Retirement System increased its stake in Mattel by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 74,833 shares of the company’s stock valued at $1,087,000 after buying an additional 1,400 shares during the period. ARGA Investment Management LP raised its position in Mattel by 2.7% during the 3rd quarter. ARGA Investment Management LP now owns 68,434 shares of the company’s stock worth $866,000 after buying an additional 1,770 shares during the last quarter. Finally, Covestor Ltd raised its position in Mattel by 81.7% during the 3rd quarter. Covestor Ltd now owns 4,115 shares of the company’s stock worth $53,000 after buying an additional 1,850 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Mattel Company Profile

Mattel, Inc is a global toy and entertainment company that designs, manufactures and markets a broad portfolio of toys, games and consumer products. Its best-known brands include Barbie, Hot Wheels, Fisher-Price, American Girl, Matchbox, UNO, Masters of the Universe and Thomas & Friends. Mattel also develops entertainment content and licenses its intellectual property for use in consumer products, digital experiences and other media.

Founded in 1945, Mattel has expanded from a U.S.