Bank of America Corp DE Invests $33.50 Million in Mattel, Inc. $MAT

Key Points

• Bank of America acquired a new $33.5 million position in Mattel, purchasing 2.41 million shares, or approximately 0.84% of the company. Other hedge funds also initiated positions, while institutional investors collectively own 97.15% of Mattel.
• Mattel reported quarterly revenue of $1.13 billion, up 10.5% year over year and above estimates, but adjusted EPS of $0.01 missed consensus by $0.03. The company maintained fiscal 2026 EPS guidance of $1.27–$1.39.
• Analyst sentiment remains mixed, with Mattel carrying a consensus “Hold” rating and an average price target of $17.80 versus its recent price of $13.21. An executive also sold 39,083 shares, reducing his position by 21.3%.

Bank of America Corp DE bought a new position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,413,407 shares of the company's stock, valued at approximately $33,498,000. Bank of America Corp DE owned 0.84% of Mattel as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Freestone Grove Partners LP purchased a new stake in shares of Mattel in the 2nd quarter valued at approximately $15,551,000. Man Group plc purchased a new position in Mattel during the 2nd quarter worth approximately $18,529,000. Lotus Technology Management LP acquired a new stake in Mattel during the 2nd quarter valued at $623,000. Jupiter Topco LLC acquired a new stake in Mattel during the 2nd quarter valued at $1,660,000. Finally, III Capital Management acquired a new stake in Mattel during the 2nd quarter valued at $1,834,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

Mattel Price Performance

NASDAQ MAT opened at $13.21 on Wednesday. Mattel, Inc. has a twelve month low of $12.73 and a twelve month high of $22.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.26 and a current ratio of 1.90. The stock has a market capitalization of $3.77 billion, a PE ratio of 9.71, a P/E/G ratio of 1.44 and a beta of 0.72. The stock has a 50-day simple moving average of $14.45 and a 200 day simple moving average of $14.57.

Mattel (NASDAQ:MAT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. Mattel had a return on equity of 16.20% and a net margin of 7.79%.The company's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. Mattel has set its FY 2026 guidance at 1.270-1.390 EPS. Research analysts anticipate that Mattel, Inc. will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

MAT has been the subject of several recent analyst reports. Odeon Capital Group initiated coverage on Mattel in a research report on Thursday, July 16th. They issued a "buy" rating for the company. Roth Capital dropped their price target on Mattel from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. The Goldman Sachs Group lowered Mattel from a "neutral" rating to a "sell" rating and dropped their price target for the company from $15.00 to $12.00 in a research report on Thursday, July 9th. Citigroup reduced their price objective on Mattel from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Friday, July 10th. Finally, Argus restated a "buy" rating and set a $22.00 price objective on shares of Mattel in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.80.

Insider Buying and Selling at Mattel

In other news, EVP Roberto Isaias sold 39,083 shares of Mattel stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.02, for a total transaction of $587,026.66. Following the sale, the executive vice president owned 144,390 shares of the company's stock, valued at approximately $2,168,737.80. This trade represents a 21.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Mattel Profile

Mattel, Inc is a global toy and entertainment company that designs, manufactures and markets toys, games and consumer products. Its portfolio includes well-known brands such as Barbie, Hot Wheels, Fisher-Price, Matchbox, American Girl, UNO, Thomas & Friends and Masters of the Universe.

The company also develops entertainment and experiences based on its intellectual property, including content, films, television projects, digital games, live events and location-based attractions. Mattel generates additional business through licensing its brands for products and services produced by other companies.

Founded in 1945 and headquartered in El Segundo, California, Mattel serves consumers in markets around the world through retail, e-commerce and other distribution channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.