Sargent Investment Group LLC Decreases Stake in Mattel, Inc. (NASDAQ:MAT)

Sargent Investment Group LLC cut its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,255 shares of the company’s stock after selling 34,180 shares during the period. Sargent Investment Group LLC’s holdings in Mattel were worth $2,214,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Jericho Capital Asset Management L.P. purchased a new position in Mattel in the third quarter valued at $76,819,000. Stifel Financial Corp raised its position in shares of Mattel by 161.8% during the 3rd quarter. Stifel Financial Corp now owns 146,494 shares of the company’s stock worth $3,227,000 after acquiring an additional 90,539 shares in the last quarter. Seven Eight Capital LP raised its position in shares of Mattel by 548.8% during the 3rd quarter. Seven Eight Capital LP now owns 75,114 shares of the company’s stock worth $1,655,000 after acquiring an additional 63,536 shares in the last quarter. Trexquant Investment LP lifted its stake in Mattel by 256.4% during the third quarter. Trexquant Investment LP now owns 287,342 shares of the company’s stock worth $6,330,000 after purchasing an additional 206,729 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Mattel by 6.1% in the third quarter. Xponance Inc. now owns 45,618 shares of the company’s stock valued at $1,005,000 after purchasing an additional 2,629 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Mattel Stock Performance

MAT stock traded down $0.11 during trading on Friday, hitting $18.36. The company had a trading volume of 3,032,244 shares, compared to its average volume of 2,781,903. The firm has a 50-day moving average price of $19.27 and a 200-day moving average price of $19.04. The company has a quick ratio of 1.90, a current ratio of 2.49 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.32 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95. Mattel, Inc. has a 1-year low of $16.20 and a 1-year high of $22.64.

Mattel (NASDAQ:MAT) last released its earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The business had revenue of $809.50 million for the quarter, compared to analyst estimates of $833.52 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that Mattel, Inc. will post 1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MAT shares. TheStreet downgraded shares of Mattel from a “b-” rating to a “c+” rating in a research report on Wednesday, January 24th. DA Davidson boosted their price target on shares of Mattel from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Mattel from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $19.00 in a research note on Monday, February 5th. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price (down previously from $25.00) on shares of Mattel in a research report on Wednesday, January 17th. Finally, StockNews.com raised Mattel from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.78.

About Mattel

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.