Arizona State Retirement System Lowers Holdings in Mattel, Inc. (NASDAQ:MAT)

Arizona State Retirement System decreased its holdings in Mattel, Inc. (NASDAQ:MAT) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 98,998 shares of the company’s stock after selling 1,785 shares during the quarter. Arizona State Retirement System’s holdings in Mattel were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont grew its stake in Mattel by 833.3% during the third quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of Mattel during the fourth quarter valued at about $29,000. Belpointe Asset Management LLC grew its position in shares of Mattel by 193.5% during the first quarter. Belpointe Asset Management LLC now owns 1,805 shares of the company’s stock valued at $33,000 after purchasing an additional 1,190 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Mattel in the third quarter worth about $52,000. Finally, Y.D. More Investments Ltd bought a new position in Mattel during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Mattel Price Performance

Mattel stock opened at $18.43 on Friday. Mattel, Inc. has a 12-month low of $16.20 and a 12-month high of $22.64. The company has a current ratio of 2.33, a quick ratio of 1.90 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average price of $19.38 and a 200-day moving average price of $19.26. The firm has a market capitalization of $6.34 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95.

Mattel (NASDAQ:MAT) last released its earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Mattel had a return on equity of 21.25% and a net margin of 3.94%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that Mattel, Inc. will post 1.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Roth Capital downgraded Mattel from a “buy” rating to a “neutral” rating in a research note on Thursday, January 4th. Roth Mkm restated a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Mattel in a research report on Thursday, January 4th. JPMorgan Chase & Co. lowered shares of Mattel from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $19.00 in a research report on Monday, February 5th. DA Davidson boosted their target price on shares of Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, TheStreet downgraded shares of Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.13.

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.