Chartwell Investment Partners LLC cut its stake in shares of Mattel Inc (NASDAQ:MAT) by 86.5% during the 1st quarter, HoldingsChannel reports. The fund owned 37,815 shares of the company’s stock after selling 241,834 shares during the period. Chartwell Investment Partners LLC’s holdings in Mattel were worth $492,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Legacy Advisors LLC acquired a new position in Mattel during the 1st quarter worth approximately $39,000. CSat Investment Advisory L.P. lifted its position in Mattel by 112.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 5,198 shares of the company’s stock worth $52,000 after acquiring an additional 2,751 shares in the last quarter. Federated Investors Inc. PA acquired a new position in Mattel during the 3rd quarter worth approximately $83,000. Delta Asset Management LLC TN lifted its position in Mattel by 19.2% during the 4th quarter. Delta Asset Management LLC TN now owns 7,100 shares of the company’s stock worth $71,000 after acquiring an additional 1,145 shares in the last quarter. Finally, Ffcm LLC lifted its position in Mattel by 149.7% during the 4th quarter. Ffcm LLC now owns 7,802 shares of the company’s stock worth $78,000 after acquiring an additional 4,678 shares in the last quarter.
In other news, CFO Joseph J. Euteneuer purchased 20,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was acquired at an average cost of $13.95 per share, for a total transaction of $279,000.00. Following the acquisition, the chief financial officer now owns 55,231 shares of the company’s stock, valued at $770,472.45. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ynon Kreiz purchased 71,425 shares of the stock in a transaction dated Thursday, February 21st. The stock was purchased at an average price of $14.02 per share, with a total value of $1,001,378.50. Following the completion of the acquisition, the chief executive officer now directly owns 71,425 shares in the company, valued at approximately $1,001,378.50. The disclosure for this purchase can be found here. Insiders bought a total of 129,425 shares of company stock valued at $1,807,179 over the last quarter. Company insiders own 1.60% of the company’s stock.
Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.15. Mattel had a negative return on equity of 43.47% and a negative net margin of 11.77%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned ($0.72) EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Mattel Inc will post -0.39 EPS for the current fiscal year.
Several research firms have issued reports on MAT. Zacks Investment Research downgraded Mattel from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 10th. BidaskClub downgraded Mattel from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. BMO Capital Markets dropped their price objective on Mattel from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, February 26th. ValuEngine upgraded Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, B. Riley set a $11.00 price objective on Mattel and gave the stock a “hold” rating in a report on Friday, December 21st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.46.
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Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.
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