Bailard Inc. Invests $606,000 in Mattel, Inc. $MAT

Bailard Inc. bought a new stake in Mattel, Inc. (NASDAQ:MAT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,000 shares of the company’s stock, valued at approximately $606,000.

Several other large investors also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Mattel by 24.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 368,536 shares of the company’s stock valued at $6,202,000 after purchasing an additional 71,971 shares during the last quarter. Patient Capital Management LLC raised its holdings in Mattel by 43.4% during the third quarter. Patient Capital Management LLC now owns 2,099,262 shares of the company’s stock valued at $35,331,000 after buying an additional 634,864 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Mattel by 2.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,779,442 shares of the company’s stock worth $97,268,000 after buying an additional 157,881 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Mattel by 2.2% during the 3rd quarter. New York State Teachers Retirement System now owns 317,965 shares of the company’s stock worth $5,351,000 after acquiring an additional 6,809 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of Mattel by 11.1% during the 3rd quarter. Forum Financial Management LP now owns 13,414 shares of the company’s stock valued at $226,000 after acquiring an additional 1,339 shares during the last quarter. 97.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAT. The Goldman Sachs Group lowered Mattel from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Friday, January 9th. Zacks Research cut shares of Mattel from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Cfra Research lowered shares of Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their target price on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, UBS Group upped their price target on shares of Mattel from $29.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.50.

Mattel Price Performance

Mattel stock opened at $20.67 on Friday. The business has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $19.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.60 and a quick ratio of 1.18. The company has a market capitalization of $6.42 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.69. Mattel, Inc. has a one year low of $13.94 and a one year high of $22.25.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Tuesday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.16). Mattel had a return on equity of 20.60% and a net margin of 8.27%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that Mattel, Inc. will post 1.7 EPS for the current fiscal year.

About Mattel

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.