Mattel (NASDAQ:MAT) Shares Gap Up Following Better-Than-Expected Earnings

Mattel, Inc. (NASDAQ:MAT)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $17.24, but opened at $17.70. Mattel shares last traded at $18.76, with a volume of 1,154,263 shares trading hands.

The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Mattel had a net margin of 5.94% and a return on equity of 25.42%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. DA Davidson restated a “buy” rating and issued a $27.00 price objective on shares of Mattel in a research report on Monday. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research report on Wednesday. Roth Mkm restated a “neutral” rating and issued a $21.00 price objective on shares of Mattel in a research report on Wednesday, April 24th. Bank of America upped their price objective on shares of Mattel from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup increased their target price on Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Mattel presently has a consensus rating of “Hold” and an average price target of $22.63.

Insider Transactions at Mattel

In other news, insider Steve Totzke sold 23,662 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the completion of the transaction, the insider now directly owns 152,018 shares in the company, valued at approximately $2,871,620.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Steve Totzke sold 23,662 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total value of $446,975.18. Following the completion of the sale, the insider now directly owns 152,018 shares in the company, valued at approximately $2,871,620.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total transaction of $407,763.65. Following the completion of the sale, the executive vice president now owns 106,086 shares of the company’s stock, valued at $1,997,599.38. The disclosure for this sale can be found here. Insiders sold a total of 90,533 shares of company stock worth $1,709,321 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Mattel

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Mattel by 108.5% during the second quarter. GAMMA Investing LLC now owns 2,022 shares of the company’s stock worth $33,000 after acquiring an additional 1,052 shares during the last quarter. Blue Trust Inc. lifted its position in Mattel by 143.2% during the second quarter. Blue Trust Inc. now owns 2,072 shares of the company’s stock worth $34,000 after acquiring an additional 1,220 shares during the last quarter. CWM LLC lifted its position in Mattel by 71.0% during the second quarter. CWM LLC now owns 2,641 shares of the company’s stock worth $43,000 after acquiring an additional 1,097 shares during the last quarter. Versant Capital Management Inc lifted its position in Mattel by 14,185.0% during the second quarter. Versant Capital Management Inc now owns 2,857 shares of the company’s stock worth $46,000 after acquiring an additional 2,837 shares during the last quarter. Finally, Partnership Wealth Management LLC acquired a new stake in Mattel during the fourth quarter worth approximately $61,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Mattel Price Performance

The company’s 50-day simple moving average is $17.21 and its 200-day simple moving average is $18.31. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.49 and a quick ratio of 1.88. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.10 and a beta of 0.86.

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.