Alpha Omega Wealth Management Lowers stake in Mattel (MAT)

Mattel (MAT) : Alpha Omega Wealth Management reduced its stake in Mattel by 1.77% during the most recent quarter end. The investment management company now holds a total of 83,680 shares of Mattel which is valued at $2,679,434 after selling 1,509 shares in Mattel , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Mattel makes up approximately 2.23% of Alpha Omega Wealth Management’s portfolio.

Mattel closed down -0.03 points or -0.09% at $32.25 with 28,58,725 shares getting traded on Wednesday. Post opening the session at $32.17, the shares hit an intraday low of $32.02 and an intraday high of $32.65 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in MAT during the most recent quarter. The investment firm sold 42,587 shares of MAT which is valued $1,363,636.Cornerstone Advisors boosted its stake in MAT in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 56 shares of Mattel which is valued at $1,793. Fox Run Management L.l.c. sold out all of its stake in MAT during the most recent quarter. The investment firm sold 16,300 shares of MAT which is valued $521,926.Guinness Asset Management Ltd reduced its stake in MAT by selling 10,680 shares or 6.92% in the most recent quarter. The Hedge Fund company now holds 143,550 shares of MAT which is valued at $4,844,813. Mattel makes up approx 1.43% of Guinness Asset Management Ltd’s portfolio.

On the company’s financial health, Mattel reported $-0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $-0.08. The company had revenue of $869.40 million for the quarter, compared to analysts expectations of $861.43 million. The company’s revenue was down -5.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Mattel. JP Morgan Initiated Mattel on Apr 7, 2016 to “Overweight”, Price Target of the shares are set at $38.Mattel was Downgraded by Stifel to ” Hold” on Apr 6, 2016. Company shares were Reiterated by MKM Partners on Apr 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 33 from a previous price target of $26 .

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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