Venturi Wealth Management LLC Reduces Position in Mattel, Inc. (NASDAQ:MAT)

Venturi Wealth Management LLC trimmed its holdings in Mattel, Inc. (NASDAQ:MAT) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,697 shares of the company’s stock after selling 538 shares during the quarter. Venturi Wealth Management LLC’s holdings in Mattel were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Mattel by 20,152.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,995,234 shares of the company’s stock valued at $178,783,000 after buying an additional 10,940,943 shares during the period. LSV Asset Management bought a new position in Mattel in the second quarter worth approximately $32,559,000. Dimensional Fund Advisors LP increased its holdings in Mattel by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,794,138 shares of the company’s stock worth $94,215,000 after purchasing an additional 1,479,227 shares during the period. Millennium Management LLC raised its position in Mattel by 92.5% during the 2nd quarter. Millennium Management LLC now owns 2,456,754 shares of the company’s stock valued at $39,947,000 after purchasing an additional 1,180,301 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Mattel by 4.6% in the 1st quarter. Capital International Investors now owns 19,231,375 shares of the company’s stock worth $380,974,000 after buying an additional 845,368 shares during the period. 97.15% of the stock is owned by institutional investors.

Mattel Stock Down 1.7 %

Mattel stock opened at $18.67 on Friday. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $20.59. The business has a fifty day moving average price of $19.11 and a 200-day moving average price of $18.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.88. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.97 and a beta of 0.78.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $1.08 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that Mattel, Inc. will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

MAT has been the topic of several research reports. Morgan Stanley raised their price target on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. DA Davidson restated a “buy” rating and issued a $27.00 price target on shares of Mattel in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their price objective on shares of Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, October 1st. Finally, Bank of America increased their target price on Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Mattel has an average rating of “Hold” and a consensus price target of $23.75.

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.