Assenagon Asset Management S.A. Invests $542,000 in Mattel, Inc. $MAT

Key Points

• Assenagon Asset Management S.A. recently invested $542,000 in Mattel, Inc., acquiring 27,479 shares during the second quarter.
• Mattel reported earnings of $0.19 per share, exceeding analysts' expectations, despite a year-over-year revenue decline of 5.7% to $1.02 billion.
• Recent analyst ratings are mixed, with Citigroup raising its price target to $24.00 while Wall Street Zen downgraded the stock from "buy" to "hold".

Assenagon Asset Management S.A. bought a new position in Mattel, Inc. (NASDAQ:MAT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,479 shares of the company's stock, valued at approximately $542,000.

Several other large investors have also recently made changes to their positions in MAT. Cetera Investment Advisers bought a new stake in Mattel during the fourth quarter worth approximately $212,000. ProShare Advisors LLC increased its stake in Mattel by 6.4% during the fourth quarter. ProShare Advisors LLC now owns 15,762 shares of the company's stock worth $279,000 after acquiring an additional 949 shares during the last quarter. Two Sigma Investments LP increased its stake in Mattel by 34.7% during the fourth quarter. Two Sigma Investments LP now owns 83,834 shares of the company's stock worth $1,486,000 after acquiring an additional 21,583 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Mattel during the fourth quarter worth approximately $313,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mattel during the fourth quarter worth approximately $3,966,000. 97.15% of the stock is owned by institutional investors.

Mattel Stock Up 1.4%

Shares of NASDAQ MAT opened at $16.90 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.62. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 2.14 and a beta of 0.66. The stock has a 50 day moving average price of $17.83 and a 200 day moving average price of $18.16. Mattel, Inc. has a 52-week low of $13.94 and a 52-week high of $22.07.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MAT shares. Citigroup boosted their price objective on Mattel from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Roth Capital set a $22.00 price objective on Mattel and gave the stock a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen lowered Mattel from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their target price on Mattel from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.38.

Mattel Company 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.

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