Pagoda Asset Management Lp Lowers stake in Mattel (MAT)

Mattel (MAT) : Pagoda Asset Management Lp reduced its stake in Mattel by 39.1% during the most recent quarter end. The investment management company now holds a total of 337,473 shares of Mattel which is valued at $10,802,511 after selling 216,658 shares in Mattel , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Mattel makes up approximately 4.24% of Pagoda Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in MAT by selling 6,490 shares or 28.49% in the most recent quarter. The Hedge Fund company now holds 16,290 shares of MAT which is valued at $503,035.Riverhead Capital Management reduced its stake in MAT by selling 6,014 shares or 18.42% in the most recent quarter. The Hedge Fund company now holds 26,634 shares of MAT which is valued at $817,397. Mattel makes up approx 0.05% of Riverhead Capital Management’s portfolio.State Of Tennessee Treasury Department reduced its stake in MAT by selling 143,793 shares or 47.02% in the most recent quarter. The Hedge Fund company now holds 162,009 shares of MAT which is valued at $5,085,463. Mattel makes up approx 0.02% of State Of Tennessee Treasury Department’s portfolio.Engineers Gate Manager Lp boosted its stake in MAT in the latest quarter, The investment management firm added 20,200 additional shares and now holds a total of 29,500 shares of Mattel which is valued at $926,005. Mattel makes up approx 0.10% of Engineers Gate Manager Lp’s portfolio.

Mattel closed down -1.29 points or -4.06% at $30.52 with 37,33,871 shares getting traded on Monday. Post opening the session at $31.32, the shares hit an intraday low of $30.49 and an intraday high of $31.47 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Mattel reported $0.69 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $0.71. The company had revenue of $1795.60 million for the quarter, compared to analysts expectations of $1761.11 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Mattel. Company shares were Reiterated by B. Riley & Co. on Oct 20, 2016 to “Buy”, Firm has raised the Price Target to $ 41 from a previous price target of $38 .MKM Partners Upgraded Mattel on Oct 10, 2016 to ” Buy”, Price Target of the shares are set at $36.Monness Crespi & Hardt Upgraded Mattel on Sep 19, 2016 to ” Buy”, Price Target of the shares are set at $37.

MATTEL INC. designs manufactures and markets a variety of toy products around the world which are sold to its customers and directly to consumers. The Company operates through three segments: North America which consists of the United States and Canada International and American Girl. The Company’s North America segment markets and sells toys in the United States and Canada through the Mattel Girls & Boys Brands Fisher-Price Brands and Construction and Arts & Crafts Brands categories. The Company’s International segment products are developed and marketed by the North America segment although some are developed or adapted for particular international markets. The Company’s American Girl segment is a direct marketer children’s publisher and retailer for its line of historical dolls books and accessories as well as the My American Girl and Bitty Baby brands. American Girl also publishes Advice & Activity books and American Girl magazine.

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