Mattel, Inc. $MAT Stock: King Luther Capital Management Corp Trims Holdings

King Luther Capital Management Corp decreased its position in Mattel, Inc. (NASDAQ:MAT) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,111,380 shares of the company’s stock after selling 86,950 shares during the quarter. King Luther Capital Management Corp’s holdings in Mattel were worth $14,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its holdings in Mattel by 3.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 49,140,882 shares of the company’s stock valued at $714,017,000 after purchasing an additional 1,799,640 shares during the last quarter. Primecap Management Co. CA acquired a new position in Mattel in the second quarter valued at about $409,540,000. BlackRock Inc. acquired a new position in Mattel in the second quarter valued at about $363,273,000. Dimensional Fund Advisors LP grew its stake in Mattel by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,052,845 shares of the company’s stock worth $160,591,000 after buying an additional 783,102 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Mattel by 30.4% during the second quarter. Alyeska Investment Group L.P. now owns 6,008,450 shares of the company’s stock worth $83,397,000 after buying an additional 1,399,771 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MAT shares. Argus reaffirmed a “buy” rating and set a $22.00 price objective on shares of Mattel in a report on Tuesday, August 25th. Seaport Research Partners raised Mattel from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, October 12th. Odeon Capital Group started coverage on Mattel in a research report on Thursday, July 16th. They set a “buy” rating on the stock. Bank of America reaffirmed a “buy” rating and set a $21.00 price target on shares of Mattel in a report on Friday, November 6th. Finally, UBS Group reiterated a “buy” rating on shares of Mattel in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.09.

Insiders Place Their Bets

In related news, EVP Roberto Isaias sold 39,083 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.02, for a total value of $587,026.66. Following the completion of the transaction, the executive vice president owned 144,390 shares in the company, valued at $2,168,737.80. The trade was a 21.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Mattel Trading Down 3.4%

MAT opened at $15.53 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $4.43 billion, a PE ratio of 9.08, a PEG ratio of 1.74 and a beta of 0.59. Mattel, Inc. has a 1-year low of $12.40 and a 1-year high of $22.48. The firm has a 50-day moving average price of $15.10 and a two-hundred day moving average price of $15.28.

Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, November 5th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.36. Mattel had a net margin of 9.04% and a return on equity of 20.02%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $0.89 earnings per share. Mattel’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Mattel, Inc. will post 1.33 earnings per share for the current fiscal year.

About Mattel

Mattel, Inc. is a global toy and family entertainment company founded in 1945 and headquartered in El Segundo, California. It designs, manufactures, and markets toys and games, along with related consumer products and entertainment content. Its well-known brands include Barbie, Hot Wheels, Fisher-Price, American Girl, and UNO. Mattel also develops movies, television programs, digital games, and other content based on its brands, and licenses its intellectual property for products and experiences.