Commonwealth Bank of Australia Cuts Holdings in Mattel, Inc. (MAT)

Commonwealth Bank of Australia lessened its holdings in shares of Mattel, Inc. (NASDAQ:MAT) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,429 shares of the company’s stock after selling 33 shares during the quarter. Commonwealth Bank of Australia’s holdings in Mattel were worth $783,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MAT. Penserra Capital Management LLC boosted its position in Mattel by 26.6% during the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock worth $131,000 after purchasing an additional 1,287 shares during the period. Delta Asset Management LLC TN boosted its position in Mattel by 54.7% during the second quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock worth $133,000 after purchasing an additional 2,175 shares during the period. First Interstate Bank boosted its position in shares of Mattel by 237.1% in the first quarter. First Interstate Bank now owns 6,682 shares of the company’s stock valued at $171,000 after acquiring an additional 4,700 shares during the period. Cleararc Capital Inc. boosted its position in shares of Mattel by 0.8% in the first quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock valued at $215,000 after acquiring an additional 69 shares during the period. Finally, Alpine Woods Capital Investors LLC bought a new position in shares of Mattel in the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

In other news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

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A number of equities analysts have recently commented on the stock. UBS AG restated a “buy” rating and issued a $23.00 price objective on shares of Mattel in a research report on Saturday. BidaskClub upgraded shares of Mattel from a “strong sell” rating to a “sell” rating in a research report on Thursday. DA Davidson restated an “underperform” rating and issued a $14.00 price objective (down from $18.00) on shares of Mattel in a research report on Tuesday, September 12th. Jefferies Group LLC restated a “hold” rating and issued a $17.00 price objective on shares of Mattel in a research report on Thursday, September 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 price objective on shares of Mattel in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.04.

Mattel, Inc. (NASDAQ MAT) opened at 15.86 on Friday. Mattel, Inc. has a 1-year low of $15.17 and a 1-year high of $33.23. The firm’s 50 day moving average is $17.10 and its 200 day moving average is $21.49. The stock has a market capitalization of $5.44 billion, a P/E ratio of 22.75 and a beta of 0.87.

Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05). Mattel had a return on equity of 11.62% and a net margin of 4.51%. The business had revenue of $974.50 million during the quarter, compared to the consensus estimate of $972.36 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Mattel, Inc. will post $0.79 earnings per share for the current year.

About Mattel

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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