Mattel (MAT) Shares Gap Down to $16.78

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Mattel, Inc. (NASDAQ:MAT) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.43, but opened at $16.78. Mattel shares last traded at $16.34, with a volume of 3690904 shares changing hands.

MAT has been the subject of a number of research reports. Citigroup boosted their target price on shares of Mattel from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Zacks Investment Research downgraded shares of Mattel from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub downgraded shares of Mattel from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. BMO Capital Markets decreased their target price on shares of Mattel from $23.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, March 20th. Finally, Jefferies Financial Group upgraded shares of Mattel from an “underperform” rating to a “hold” rating and set a $13.00 target price for the company in a research report on Wednesday, April 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Mattel has an average rating of “Hold” and an average target price of $17.55.

The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of -15.20 and a beta of 0.99. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.56 and a current ratio of 2.25.

Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Thursday, April 26th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.21). The firm had revenue of $708.40 million during the quarter, compared to analyst estimates of $687.70 million. Mattel had a negative return on equity of 32.79% and a negative net margin of 25.79%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) EPS. research analysts expect that Mattel, Inc. will post -0.54 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its position in shares of Mattel by 8.0% during the 4th quarter. Arizona State Retirement System now owns 185,294 shares of the company’s stock worth $2,850,000 after purchasing an additional 13,719 shares during the last quarter. Rhumbline Advisers raised its position in shares of Mattel by 1.7% during the 4th quarter. Rhumbline Advisers now owns 640,847 shares of the company’s stock worth $9,856,000 after purchasing an additional 10,537 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Mattel by 1.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,123,414 shares of the company’s stock worth $17,278,000 after purchasing an additional 19,134 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Mattel during the 4th quarter worth about $187,000. Finally, State of Tennessee Treasury Department raised its position in shares of Mattel by 49.0% during the 4th quarter. State of Tennessee Treasury Department now owns 138,921 shares of the company’s stock worth $2,137,000 after purchasing an additional 45,710 shares during the last quarter.

About Mattel

Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.

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