HighTower Advisors LLC Reduces Holdings in Mattel, Inc. (NASDAQ:MAT)

HighTower Advisors LLC decreased its position in Mattel, Inc. (NASDAQ:MAT - Free Report) by 59.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,348 shares of the company's stock after selling 43,622 shares during the quarter. HighTower Advisors LLC's holdings in Mattel were worth $565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MAT. UMB Bank n.a. grew its position in shares of Mattel by 584.3% during the 3rd quarter. UMB Bank n.a. now owns 1,485 shares of the company's stock valued at $28,000 after acquiring an additional 1,268 shares during the period. V Square Quantitative Management LLC bought a new stake in Mattel during the third quarter valued at about $29,000. Prospera Private Wealth LLC purchased a new stake in Mattel in the third quarter worth about $34,000. Blue Trust Inc. raised its stake in shares of Mattel by 143.2% in the second quarter. Blue Trust Inc. now owns 2,072 shares of the company's stock worth $34,000 after buying an additional 1,220 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Mattel by 38.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock valued at $53,000 after buying an additional 775 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. DA Davidson reissued a "buy" rating and issued a $27.00 target price on shares of Mattel in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of Mattel from $18.25 to $20.00 and gave the company a "hold" rating in a research report on Tuesday, October 1st. Bank of America upped their target price on shares of Mattel from $26.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Mattel from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Finally, Morgan Stanley upped their price objective on Mattel from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.75.

Mattel Price Performance

NASDAQ MAT traded up $0.05 during trading on Friday, hitting $17.86. 14,453,369 shares of the stock traded hands, compared to its average volume of 3,237,248. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01. Mattel, Inc. has a 12-month low of $15.87 and a 12-month high of $20.59. The firm has a 50-day simple moving average of $18.97 and a 200-day simple moving average of $18.49. The company has a market capitalization of $6.02 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.99 and a beta of 0.76.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. Mattel's quarterly revenue was down 3.9% on a year-over-year basis. As a group, analysts predict that Mattel, Inc. will post 1.46 EPS for the current 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.