PNC Financial Services Group Inc. Sells 2,230 Shares of Mattel, Inc. (NASDAQ:MAT)

PNC Financial Services Group Inc. trimmed its holdings in Mattel, Inc. (NASDAQ:MAT) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,257 shares of the company’s stock after selling 2,230 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mattel were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MAT. Lazard Asset Management LLC bought a new stake in Mattel during the 2nd quarter valued at about $52,000. Harvest Fund Management Co. Ltd increased its stake in Mattel by 101.1% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 3,016 shares of the company’s stock valued at $61,000 after purchasing an additional 1,516 shares in the last quarter. AGF Investments Inc. bought a new stake in Mattel during the 2nd quarter valued at about $183,000. Raymond James & Associates bought a new stake in Mattel during the 3rd quarter valued at about $224,000. Finally, Commonwealth Equity Services LLC increased its stake in Mattel by 6.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,162 shares of the company’s stock valued at $299,000 after purchasing an additional 942 shares in the last quarter. Institutional investors own 99.07% of the company’s stock.

Shares of NASDAQ:MAT opened at $22.33 on Friday. Mattel, Inc. has a 1 year low of $16.92 and a 1 year high of $23.31. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 9.67 and a beta of 1.59. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.61 and a quick ratio of 1.10. The business’s 50 day moving average price is $21.70 and its 200-day moving average price is $20.95.

Mattel (NASDAQ:MAT) last issued its earnings results on Thursday, October 21st. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Mattel had a return on equity of 57.56% and a net margin of 15.55%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $0.95 EPS. On average, sell-side analysts expect that Mattel, Inc. will post 1.12 earnings per share for the current year.

A number of analysts have recently issued reports on MAT shares. Zacks Investment Research downgraded shares of Mattel from a “strong-buy” rating to a “sell” rating and set a $21.00 price target on the stock. in a report on Tuesday, September 28th. TheStreet raised shares of Mattel from a “c+” rating to a “b-” rating in a report on Thursday, October 21st. DA Davidson reaffirmed a “buy” rating on shares of Mattel in a report on Wednesday, December 29th. Stifel Nicolaus dropped their price target on shares of Mattel from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, October 4th. Finally, MKM Partners raised shares of Mattel from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $30.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $26.32.

Mattel Profile

Mattel, Inc is a global children’s entertainment company that specializes in the design and production of toys and consumer products. The company engages consumers through its portfolio of iconic franchises, including Barbie, Hot Wheels, American Girl, Fisher-Price, Thomas & Friends, UNO and MEGA. It operates through the following segments: North America, International and American Girl.

Further Reading: Cyclical Stocks

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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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