HighTower Advisors LLC Trims Stake in Mattel, Inc. (NASDAQ:MAT)

HighTower Advisors LLC reduced its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 59.8% in the third quarter, Holdings Channel reports. The firm owned 29,348 shares of the company’s stock after selling 43,622 shares during the period. HighTower Advisors LLC’s holdings in Mattel were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MAT. Nisa Investment Advisors LLC boosted its position in Mattel by 2.8% during the third quarter. Nisa Investment Advisors LLC now owns 25,795 shares of the company’s stock valued at $491,000 after purchasing an additional 693 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Mattel by 38.3% during the third quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock worth $53,000 after buying an additional 775 shares during the period. State of Alaska Department of Revenue lifted its position in Mattel by 3.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 39,484 shares of the company’s stock worth $752,000 after acquiring an additional 1,160 shares during the period. Blue Trust Inc. lifted its holdings in shares of Mattel by 143.2% during the second quarter. Blue Trust Inc. now owns 2,072 shares of the company’s stock worth $34,000 after purchasing an additional 1,220 shares during the period. Finally, KBC Group NV raised its position in Mattel by 13.8% during the 3rd quarter. KBC Group NV now owns 10,166 shares of the company’s stock worth $194,000 after buying an additional 1,229 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson restated a “buy” rating and issued a $27.00 target price on shares of Mattel in a research note on Thursday, October 24th. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley upped their price objective on shares of Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group raised their target price on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.75.

Mattel Trading Up 0.3 %

Shares of Mattel stock opened at $17.86 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 1.01. Mattel, Inc. has a twelve month low of $15.87 and a twelve month high of $20.59. The firm has a market capitalization of $6.02 billion, a PE ratio of 11.16, a P/E/G ratio of 0.99 and a beta of 0.76. The firm’s 50-day moving average price is $19.00 and its 200 day moving average price is $18.49.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts predict that Mattel, Inc. will post 1.46 EPS for the current fiscal year.

Mattel Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.