Hasbro makes takeover offer for Mattel

Justin Sullivan | Getty Images

Justin Sullivan | Getty Images

Shares of Mattel (NASDAQ:MAT) opened at 28.34 on Tuesday. Hasbro has a value of about $11 billion after a near 18 percent increase in its stock price in 2017.

MAT has been the topic of several research reports. BidaskClub upgraded Mattel from a strong sell rating to a sell rating in a research report on Thursday, September 14th. Monness Crespi & Hardt raised shares of Mattel from a "neutral" rating to a "buy" rating and set a $37.00 target price on the stock in a report on Monday, September 19th.

The two companies, which had a combined market value of about $16 billion as of Friday's close, said they do not comment on rumors or speculation.

COPYRIGHT VIOLATION WARNING: "Mattel, Inc". The company now has an average rating of "Buy" and a consensus price target of $35.53. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and global copyright & trademark legislation. "(MAT) Given New $14.00 Price Target at Stifel Nicolaus" was published by StockNewsTimes and is owned by of StockNewsTimes.

Shares of Mattel (NASDAQ MAT) traded up $0.63 during mid-day trading on Monday, hitting $13.93. Mattel has a one year low of $23.85 and a one year high of $34.76. The company has a quick ratio of 0.89, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Mattel (NASDAQ:MAT) last posted its earnings results on Thursday, October 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.58 by ($0.49). The company had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.82 billion. Last month the company suspended its dividend and warned it would miss forecasts for revenue this year.

Hasbro, which is trying to diversify its revenue stream, also sought to buy United States movie studio and entertainment company Lions Gate Entertainment Corp this year, but those talks ended without a deal, Reuters reported in August.

Large investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC grew its holdings in shares of Mattel by 0.3% in the second quarter. Ameritas Investment Partners Inc. now owns 14,315 shares of the company's stock valued at $432,000 after buying an additional 1,413 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in Mattel by 3.2% in the second quarter. Thrivent Financial For Lutherans now owns 13,050 shares of the company's stock valued at $281,000 after acquiring an additional 410 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in Mattel by 1.4% during the second quarter. Louisiana State Employees Retirement System grew its holdings in Mattel by 1.0% during the second quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the business.

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