Mattel (NASDAQ:MAT) Shares Gap Down to $11.57

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Shares of Mattel Inc (NASDAQ:MAT) gapped down before the market opened on Wednesday . The stock had previously closed at $11.93, but opened at $11.57. Mattel shares last traded at $11.42, with a volume of 5,993,519 shares.

MAT has been the subject of a number of research analyst reports. BidaskClub upgraded Mattel from a “sell” rating to a “hold” rating in a report on Friday, September 13th. DA Davidson restated a “neutral” rating on shares of Mattel in a report on Tuesday, July 30th. UBS Group dropped their price objective on Mattel from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Cfra restated a “hold” rating on shares of Mattel in a report on Friday, July 19th. Finally, SunTrust Banks dropped their price objective on Mattel to $12.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Mattel presently has an average rating of “Hold” and a consensus price target of $13.92.

The firm has a 50 day moving average price of $10.95 and a two-hundred day moving average price of $11.96. The company has a quick ratio of 1.11, a current ratio of 1.78 and a debt-to-equity ratio of 6.78. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -10.11 and a beta of 1.68.

Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, July 25th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.10. The company had revenue of $860.10 million during the quarter, compared to the consensus estimate of $822.24 million. Mattel had a negative return on equity of 28.70% and a negative net margin of 6.00%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned ($0.56) earnings per share. Analysts predict that Mattel Inc will post -0.58 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Mattel by 34.9% during the second quarter. BlackRock Inc. now owns 37,850,491 shares of the company’s stock worth $424,305,000 after purchasing an additional 9,786,835 shares during the last quarter. Natixis bought a new position in Mattel in the second quarter worth about $121,000. Primecap Management Co. CA lifted its holdings in Mattel by 1.8% in the second quarter. Primecap Management Co. CA now owns 51,773,109 shares of the company’s stock worth $580,377,000 after acquiring an additional 932,710 shares during the last quarter. Prudential PLC increased its stake in shares of Mattel by 21.4% in the second quarter. Prudential PLC now owns 318,768 shares of the company’s stock valued at $3,506,000 after purchasing an additional 56,149 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Mattel by 14.4% in the second quarter. Worldquant Millennium Advisors LLC now owns 150,113 shares of the company’s stock valued at $1,683,000 after purchasing an additional 18,938 shares during the period.

About Mattel (NASDAQ:MAT)

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, content, gaming, and lifestyle products for children under the Barbie brand; diecast cars, tracks, playsets, and play products for kids, adults, and collectors under the Hot Wheels brand name; content, toy, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends brands; and dolls and books under the American Girl brand name.

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