Mattel, Inc. $MAT Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 135.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,219 shares of the company’s stock after purchasing an additional 48,970 shares during the quarter. State of Alaska Department of Revenue’s holdings in Mattel were worth $1,433,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MAT. EdgePoint Investment Group Inc. raised its stake in shares of Mattel by 12.9% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 40,823,584 shares of the company’s stock worth $805,041,000 after buying an additional 4,665,541 shares during the last quarter. Ariel Investments LLC grew its holdings in Mattel by 2.6% during the 2nd quarter. Ariel Investments LLC now owns 14,220,786 shares of the company’s stock valued at $280,434,000 after buying an additional 362,671 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Mattel by 0.6% during the second quarter. Frontier Capital Management Co. LLC now owns 8,980,205 shares of the company’s stock worth $177,090,000 after buying an additional 55,916 shares in the last quarter. LSV Asset Management raised its holdings in shares of Mattel by 22.0% in the second quarter. LSV Asset Management now owns 5,699,638 shares of the company’s stock worth $112,397,000 after acquiring an additional 1,026,496 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Mattel by 8.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,621,561 shares of the company’s stock valued at $110,857,000 after acquiring an additional 421,580 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MAT. JPMorgan Chase & Co. cut their target price on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Cfra Research downgraded shares of Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group lowered shares of Mattel from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Friday, January 9th. UBS Group boosted their price target on Mattel from $29.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Seaport Res Ptn raised Mattel to a “hold” rating in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.50.

Mattel Trading Down 3.3%

MAT stock opened at $21.04 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.60 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 2.32 and a beta of 0.69. The business has a fifty day simple moving average of $20.39 and a 200-day simple moving average of $19.01. Mattel, Inc. has a 52 week low of $13.94 and a 52 week high of $22.25.

Mattel (NASDAQ:MAT) last issued its earnings results on Tuesday, October 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.86 billion. Mattel had a net margin of 8.27% and a return on equity of 20.60%. Mattel’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. On average, equities research analysts expect that Mattel, Inc. will post 1.7 EPS for the current year.

Mattel Profile

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.