Mattel (MAT) Bonds Trading 3.6% Lower

An issue of Mattel, Inc. (NASDAQ:MAT) debt fell 3.6% against its face value during trading on Monday. The high-yield issue of debt has a 6.2% coupon and will mature on October 1, 2040. The debt is now trading at $85.88 and was trading at $91.76 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

Several research firms have issued reports on MAT. BidaskClub upgraded shares of Mattel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 15th. Barclays cut shares of Mattel from an “equal weight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a research report on Friday, March 9th. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 price objective (down from $34.00) on shares of Mattel in a research report on Wednesday, December 13th. Zacks Investment Research upgraded shares of Mattel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Monness Crespi & Hardt cut shares of Mattel from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.33.

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Mattel, Inc. (NASDAQ:MAT) opened at $14.47 on Wednesday. Mattel, Inc. has a 52-week low of $12.71 and a 52-week high of $25.97. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.92 and a quick ratio of 1.55.

Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Thursday, February 1st. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.93). Mattel had a negative return on equity of 21.37% and a negative net margin of 21.59%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. equities research analysts forecast that Mattel, Inc. will post -0.02 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of MAT. Parnassus Investments CA grew its holdings in shares of Mattel by 33.2% during the 4th quarter. Parnassus Investments CA now owns 21,391,928 shares of the company’s stock valued at $329,008,000 after acquiring an additional 5,327,564 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Mattel by 20.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,201,338 shares of the company’s stock valued at $204,357,000 after acquiring an additional 2,253,399 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Mattel by 102.2% during the 4th quarter. Franklin Resources Inc. now owns 3,112,937 shares of the company’s stock valued at $47,877,000 after acquiring an additional 1,573,028 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Mattel by 144.8% during the 4th quarter. Sei Investments Co. now owns 2,142,172 shares of the company’s stock valued at $32,946,000 after acquiring an additional 1,266,982 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its holdings in shares of Mattel by 147.9% during the 3rd quarter. Chartwell Investment Partners LLC now owns 1,480,600 shares of the company’s stock valued at $22,919,000 after acquiring an additional 883,305 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

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Mattel Company Profile

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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