Ariel Investments LLC Reduces Stock Holdings in Mattel, Inc. $MAT

Key Points

• Ariel Investments LLC has reduced its stake in Mattel, Inc. by 6.5%, now holding approximately 13.86 million shares, which account for about 3.2% of its total portfolio.
• Despite Ariel’s reduction in holdings, other hedge funds like EdgePoint Investment Group Inc. and Dimensional Fund Advisors LP have significantly increased their investments in Mattel during the same period.
• Mattel recently reported an EPS of $0.19 for the latest quarter, slightly above analysts' expectations, but its revenue fell 5.7% year-over-year to $1.02 billion.

Ariel Investments LLC reduced its stake in Mattel, Inc. (NASDAQ:MAT - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,858,115 shares of the company's stock after selling 962,630 shares during the quarter. Mattel comprises approximately 3.2% of Ariel Investments LLC's portfolio, making the stock its biggest holding. Ariel Investments LLC owned approximately 4.29% of Mattel worth $269,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EdgePoint Investment Group Inc. raised its stake in shares of Mattel by 14.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company's stock worth $818,681,000 after acquiring an additional 5,984,400 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mattel by 21.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,089,837 shares of the company's stock worth $157,179,000 after acquiring an additional 1,416,542 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Mattel by 247.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company's stock worth $129,240,000 after purchasing an additional 4,737,199 shares during the last quarter. LSV Asset Management grew its holdings in shares of Mattel by 14.1% in the first quarter. LSV Asset Management now owns 4,673,142 shares of the company's stock worth $90,799,000 after purchasing an additional 578,677 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Mattel by 5.6% during the 1st quarter. Northern Trust Corp now owns 3,308,774 shares of the company's stock valued at $64,289,000 after buying an additional 176,031 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MAT shares. DA Davidson reiterated a "buy" rating and set a $30.00 price target on shares of Mattel in a report on Thursday, May 15th. Roth Capital set a $22.00 price target on shares of Mattel and gave the company a "neutral" rating in a report on Friday, July 11th. Citigroup upped their price target on shares of Mattel from $22.00 to $24.00 and gave the company a "buy" rating in a report on Monday, June 16th. JPMorgan Chase & Co. upped their price target on shares of Mattel from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut shares of Mattel from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Mattel has an average rating of "Moderate Buy" and a consensus target price of $24.38.

Mattel Trading Up 0.9%

NASDAQ:MAT traded up $0.17 during trading hours on Friday, hitting $18.82. The company had a trading volume of 2,515,123 shares, compared to its average volume of 2,865,080. The company has a market capitalization of $6.06 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.66. The stock has a 50-day moving average price of $18.59 and a 200 day moving average price of $18.54. Mattel, Inc. has a 52 week low of $13.94 and a 52 week high of $22.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 1.12.

Mattel (NASDAQ:MAT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. Mattel had a net margin of 9.87% and a return on equity of 25.19%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company's quarterly revenue was down 5.7% on a year-over-year basis. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. On average, equities research analysts predict that Mattel, Inc. will post 1.7 EPS for the current fiscal year.

Mattel Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.