Cornercap Investment Counsel Inc. Cuts Stock Holdings in Mattel, Inc. (NASDAQ:MAT)

Cornercap Investment Counsel Inc. cut its holdings in Mattel, Inc. (NASDAQ:MAT - Free Report) by 52.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,466 shares of the company's stock after selling 30,268 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Mattel were worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Mattel by 584.3% in 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 purchased a new stake in shares of Mattel during the third quarter valued at about $29,000. GAMMA Investing LLC boosted its holdings in shares of Mattel by 108.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,022 shares of the company's stock valued at $33,000 after buying an additional 1,052 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Mattel by 143.2% in the 2nd quarter. Blue Trust Inc. now owns 2,072 shares of the company's stock valued at $34,000 after buying an additional 1,220 shares in the last quarter. Finally, CWM LLC grew its position in shares of Mattel by 71.0% in the 2nd quarter. CWM LLC now owns 2,641 shares of the company's stock worth $43,000 after buying an additional 1,097 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

Mattel Price Performance

Shares of NASDAQ:MAT opened at $18.67 on Friday. Mattel, Inc. has a twelve month low of $15.87 and a twelve month high of $20.59. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 1.01. The company has a market cap of $6.29 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. The company's 50 day moving average is $19.11 and its 200 day moving average is $18.39.

Mattel (NASDAQ:MAT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.19. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business's quarterly revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Mattel, Inc. will post 1.46 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Mattel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Morgan Stanley raised their price objective on Mattel from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Bank of America upped their target price on Mattel from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. DA Davidson reiterated a "buy" rating and issued a $27.00 price target on shares of Mattel in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on Mattel from $18.25 to $20.00 and gave the stock a "hold" rating in a research note 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, Mattel presently has an average rating of "Hold" and an average target price of $23.75.

Mattel Company 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.