Mattel (NASDAQ:MAT) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Shares of Mattel, Inc. (NASDAQ:MAT) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $15.26 and traded as low as $15.11. Mattel shares last traded at $15.12, with a volume of 3,708,590 shares changing hands.

Wall Street Analyst Weigh In

MAT has been the subject of several research analyst reports. Bank of America restated a “buy” rating and set a $21.00 price target on shares of Mattel in a research report on Friday, November 6th. Seaport Research Partners upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, October 12th. Citigroup dropped their price target on shares of Mattel from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, November 6th. Argus reaffirmed a “buy” rating and set a $22.00 price target on shares of Mattel in a research report on Tuesday, August 25th. Finally, UBS Group reaffirmed a “buy” rating on shares of Mattel in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.09.

Mattel Stock Down 2.6%

The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 1.68 and a beta of 0.59. The company has a current ratio of 1.98, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $15.11 and its two-hundred day moving average is $15.26.

Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.36. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Mattel had a net margin of 9.04% and a return on equity of 20.02%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. On average, sell-side analysts predict that Mattel, Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling at Mattel

In related news, EVP Roberto Isaias sold 39,083 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.02, for a total transaction of $587,026.66. Following the transaction, the executive vice president directly owned 144,390 shares of the company’s stock, valued at approximately $2,168,737.80. The trade was a 21.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Mattel

Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Mattel during the second quarter worth approximately $1,141,000. Sei Investments Co. raised its holdings in shares of Mattel by 107.3% in the 1st quarter. Sei Investments Co. now owns 2,159,405 shares of the company’s stock worth $31,376,000 after buying an additional 1,117,726 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Mattel in the 2nd quarter worth approximately $363,273,000. Great Lakes Advisors LLC bought a new stake in shares of Mattel during the second quarter worth $3,147,000. Finally, Tidal Investments LLC grew its holdings in Mattel by 184.6% during the 2nd quarter. Tidal Investments LLC now owns 160,814 shares of the company’s stock worth $2,232,000 after acquiring an additional 104,302 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Mattel Company Profile

Mattel, Inc. is a global toy and family entertainment company founded in 1945 and headquartered in El Segundo, California. It designs, manufactures, and markets toys and games, along with related consumer products and entertainment content. Its well-known brands include Barbie, Hot Wheels, Fisher-Price, American Girl, and UNO. Mattel also develops movies, television programs, digital games, and other content based on its brands, and licenses its intellectual property for products and experiences.