Franklin Resources Inc. Cuts Position in Mattel, Inc. (MAT)
Franklin Resources Inc. reduced its position in Mattel, Inc. (NASDAQ:MAT) by 97.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,635 shares of the company’s stock after selling 883,531 shares during the quarter. Franklin Resources Inc.’s holdings in Mattel were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of MAT. Cleararc Capital Inc. lifted its position in Mattel by 0.8% during the first quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock valued at $215,000 after buying an additional 69 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Mattel by 0.6% in the first quarter. Sentry Investment Management LLC now owns 25,692 shares of the company’s stock worth $658,000 after acquiring an additional 145 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Mattel by 0.6% in the first quarter. Advantus Capital Management Inc now owns 34,314 shares of the company’s stock worth $879,000 after acquiring an additional 191 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Mattel by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock worth $456,000 after acquiring an additional 200 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Mattel by 1.3% in the second quarter. Private Advisor Group LLC now owns 16,306 shares of the company’s stock worth $341,000 after acquiring an additional 204 shares in the last quarter. 93.81% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on MAT shares. UBS AG reissued a “buy” rating and issued a $26.00 target price (down previously from $29.00) on shares of Mattel in a research note on Wednesday, June 21st. MKM Partners decreased their price target on shares of Mattel from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 3rd. Monness Crespi & Hardt decreased their price target on shares of Mattel from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, June 15th. DA Davidson reiterated a “buy” rating and issued a $30.00 price target on shares of Mattel in a report on Monday, June 12th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.12.
In other news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Shares of Mattel, Inc. (NASDAQ:MAT) opened at 15.38 on Tuesday. The firm’s 50-day moving average price is $15.89 and its 200 day moving average price is $20.60. Mattel, Inc. has a 12-month low of $14.35 and a 12-month high of $33.23. The stock has a market capitalization of $5.27 billion, a P/E ratio of 22.07 and a beta of 0.86.
Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05). Mattel had a net margin of 4.51% and a return on equity of 11.62%. The business had revenue of $974.50 million during the quarter, compared to analyst estimates of $972.36 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts predict that Mattel, Inc. will post $0.78 EPS for the current fiscal year.
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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