Mattel, Inc. (MAT) Position Cut by Cadence Capital Management LLC

Cadence Capital Management LLC trimmed its holdings in Mattel, Inc. (NASDAQ:MAT) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,618 shares of the company’s stock after selling 13,634 shares during the quarter. Cadence Capital Management LLC’s holdings in Mattel were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MAT. Parnassus Investments CA lifted its position in Mattel by 33.2% in the fourth quarter. Parnassus Investments CA now owns 21,391,928 shares of the company’s stock worth $329,008,000 after purchasing an additional 5,327,564 shares during the period. Bank of New York Mellon Corp lifted its position in Mattel by 20.6% in the third quarter. Bank of New York Mellon Corp now owns 13,201,338 shares of the company’s stock worth $204,357,000 after purchasing an additional 2,253,399 shares during the period. Alps Advisors Inc. lifted its position in Mattel by 41.3% in the third quarter. Alps Advisors Inc. now owns 2,972,551 shares of the company’s stock worth $46,015,000 after purchasing an additional 868,577 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Mattel by 30.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 2,290,591 shares of the company’s stock worth $35,459,000 after purchasing an additional 531,227 shares during the period. Finally, Legal & General Group Plc lifted its position in Mattel by 6.4% in the third quarter. Legal & General Group Plc now owns 1,967,473 shares of the company’s stock worth $30,454,000 after purchasing an additional 118,877 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on MAT shares. UBS Group set a $22.00 target price on Mattel and gave the stock a “buy” rating in a research report on Friday, October 27th. Citigroup upped their target price on Mattel from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. TheStreet downgraded Mattel from a “c” rating to a “d” rating in a research report on Thursday, October 26th. Barclays increased their price objective on Mattel from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Finally, ValuEngine upgraded Mattel from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.00.

Shares of Mattel, Inc. (MAT) opened at $16.51 on Thursday. Mattel, Inc. has a 52-week low of $12.71 and a 52-week high of $26.30. The company has a market capitalization of $5,670.00, a price-to-earnings ratio of -5.40, a PEG ratio of 14.49 and a beta of 1.00. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.55 and a current ratio of 1.92.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, February 1st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.93). Mattel had a negative net margin of 21.59% and a negative return on equity of 21.37%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company posted $0.52 EPS. Mattel’s revenue was down 12.2% on a year-over-year basis. sell-side analysts forecast that Mattel, Inc. will post 0.13 earnings per share for the current fiscal year.

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Mattel 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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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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