Mattel, Inc. (MAT) Position Lowered by Lapides Asset Management LLC
Lapides Asset Management LLC cut its holdings in Mattel, Inc. (NASDAQ:MAT) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 386,400 shares of the company’s stock after selling 200,600 shares during the quarter. Lapides Asset Management LLC’s holdings in Mattel were worth $5,943,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Calton & Associates Inc. bought a new stake in shares of Mattel during the fourth quarter valued at approximately $112,000. National Asset Management Inc. bought a new stake in shares of Mattel during the second quarter valued at approximately $213,000. Zeke Capital Advisors LLC bought a new stake in shares of Mattel during the third quarter valued at approximately $163,000. Hartland & Co. LLC bought a new stake in shares of Mattel during the third quarter valued at approximately $165,000. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Mattel by 3.2% during the second quarter. Thrivent Financial For Lutherans now owns 13,050 shares of the company’s stock valued at $281,000 after acquiring an additional 410 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on MAT. BidaskClub upgraded Mattel from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Citigroup boosted their price objective on Mattel from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Barclays boosted their price objective on Mattel from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Stifel Nicolaus restated a “hold” rating and set a $16.00 price objective on shares of Mattel in a report on Monday, January 29th. Finally, Zacks Investment Research upgraded Mattel from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Mattel has a consensus rating of “Hold” and an average price target of $19.00.
Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, February 1st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.93). Mattel had a negative return on equity of 21.37% and a negative net margin of 21.59%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $0.52 EPS. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. equities research analysts predict that Mattel, Inc. will post 0.13 earnings per share for the current fiscal year.
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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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