Patient Capital Management LLC Acquires 634,864 Shares of Mattel, Inc. $MAT

Patient Capital Management LLC lifted its holdings in Mattel, Inc. (NASDAQ:MAT) by 43.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,099,262 shares of the company’s stock after purchasing an additional 634,864 shares during the period. Mattel accounts for 1.4% of Patient Capital Management LLC’s portfolio, making the stock its 29th biggest position. Patient Capital Management LLC’s holdings in Mattel were worth $35,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its stake in Mattel by 12.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 40,823,584 shares of the company’s stock valued at $805,041,000 after buying an additional 4,665,541 shares during the last quarter. Ariel Investments LLC grew its holdings in shares of Mattel by 2.6% in the 2nd quarter. Ariel Investments LLC now owns 14,220,786 shares of the company’s stock valued at $280,434,000 after acquiring an additional 362,671 shares in the last quarter. Frontier Capital Management Co. LLC boosted 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 valued at $177,090,000 after purchasing an additional 55,916 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Mattel by 2.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,779,442 shares of the company’s stock worth $97,268,000 after purchasing an additional 157,881 shares during the last quarter. Finally, LSV Asset Management grew its stake 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 valued at $112,397,000 after buying an additional 1,026,496 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Mattel Trading Down 1.9%

MAT stock opened at $20.63 on Wednesday. Mattel, Inc. has a 52 week low of $13.94 and a 52 week high of $22.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.18 and a current ratio of 1.60. The company’s 50-day simple moving average is $20.45 and its 200 day simple moving average is $18.99. The company has a market capitalization of $6.41 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.24 and a beta of 0.69.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MAT shares. UBS Group boosted their price target on Mattel from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Cfra Research cut Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. DA Davidson cut their price target on Mattel from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. JPMorgan Chase & Co. decreased their price objective 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, Seaport Res Ptn upgraded shares of Mattel to a “hold” rating in a research note on Monday, November 10th. Four equities 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.50.

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.