Stock traders are buying a high volume of put options on Mattel (NASDAQ:MAT)
Mattel, Inc. (NASDAQ: MAT – Get a rating) was the target of a few unusual options trades on Thursday. Investors bought 56,480 put options on the company. This is an increase of approximately 1,548% from the average daily volume of 3,427 puts.
Mattel shares down 4.5%
NASDAQ: MAT traded down $1.03 in Thursday’s midday session, hitting $22.08. The company had a trading volume of 3,230,105 shares, compared to its average volume of 3,135,345. The company has a market capitalization of $7.80 billion, a price/earnings ratio of 7.00, a PEG ratio of 0.89 and a beta of 1.22. The stock’s fifty-day simple moving average is $22.86 and its 200-day simple moving average is $23.28. Mattel has a 12 month minimum of $17.94 and a 12 month maximum of $26.99. The company has a current ratio of 1.82, a quick ratio of 1.03 and a debt ratio of 1.34.
Mattel (NASDAQ:MAT – Get a rating) last reported results on Thursday, July 21. The company reported earnings per share (EPS) of $0.18 for the quarter, beating consensus analyst estimates of $0.05 by $0.13. The company posted revenue of $1.24 billion in the quarter, against analyst estimates of $1.11 billion. Mattel had a return on equity of 37.28% and a net margin of 19.31%. During the same period last year, the company posted earnings per share of $0.03. On average, sell-side analysts expect Mattel to post 1.48 earnings per share for the current fiscal year.
Changes to analyst ratings
MAT has been the subject of several recent research reports. Jefferies Financial Group cut its price target on Mattel from $27.00 to $24.00 in a Friday, July 15 report. StockNews.com moved Mattel from a “hold” rating to a “buy” rating in a Tuesday, July 12, report. MKM Partners cut its price target on Mattel from $34.00 to $30.00 and set a “buy” rating for the company in a Thursday, July 7 report. Bank of America assumed coverage from Mattel in a Thursday, Aug. 18, report. They issued a “buy” rating for the company. Finally, the Goldman Sachs Group upgraded Mattel from a “neutral” rating to a “buy” rating and raised its price target for the stock from $30.00 to $31.00 in a research report from the Sunday July 10. Seven investment analysts have rated the stock with a buy rating. According to data from MarketBeat, Mattel currently has a consensus rating of “Buy” and an average target price of $32.57.
Mattel Institutional Trading
A number of hedge funds and other institutional investors have recently bought and sold shares of MAT. Rhumbline Advisers increased its position in Mattel shares by 0.8% during the first quarter. Rhumbline Advisers now owns 901,190 shares of the company worth $20,015,000 after purchasing an additional 7,350 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Mattel stock during the fourth quarter worth approximately $370,000. Miracle Mile Advisors LLC acquired a new stake in Mattel stock during the first quarter worth approximately $676,000. Quantitative Investment Management LLC increased its position in Mattel shares by 8.6% during the first quarter. Quantitative Investment Management LLC now owns 10,681 shares of the company worth $237,000 after purchasing an additional 846 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Mattel shares by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 128,396 shares of the company worth $2,852,000 after purchasing 12,242 additional shares last quarter. 98.59% of the shares are currently held by institutional investors and hedge funds.
Mattel, Inc, a children’s entertainment company, designs and manufactures toys and consumer products worldwide. The Company operates through North America, International and American Girl segments. It offers dolls and accessories, as well as children’s content, play and lifestyle products under the Barbie, Monster High, American Girl, Polly Pocket, Spirit and Enchantimals brands; dolls and books under the American Girl brand; die-cast vehicles, tracks, playsets and accessories for kids of all ages and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS and Mario Kart brands; and infant, toddler and preschool products including content, toys, live events and other lifestyle products under the Fisher-Price and Thomas & Friends, Power wheels and Fireman Sam brands.
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