Cubist Systematic Strategies LLC Invests $13.30 Million in Mattel, Inc. $MAT

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Mattel, Inc. by purchasing 684,415 shares valued at approximately $13.3 million, representing about 0.21% of the company's stock.
• Institutional investors and hedge funds now own 97.15% of Mattel's stock, with significant increases in stakes from firms such as EdgePoint Investment Group and Fuller & Thaler Asset Management in recent quarters.
• Mattel's latest earnings report showed a 5.7% decline in year-over-year revenue, despite beating EPS estimates, with projections for FY 2025 earnings set between $1.540 and $1.660.

Cubist Systematic Strategies LLC bought a new position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 684,415 shares of the company's stock, valued at approximately $13,298,000. Cubist Systematic Strategies LLC owned about 0.21% of Mattel as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Quarry LP raised its stake in Mattel by 233.7% during the first quarter. Quarry LP now owns 10,504 shares of the company's stock worth $204,000 after buying an additional 7,356 shares during the last quarter. Kodai Capital Management LP grew its holdings in Mattel by 35.5% in the first quarter. Kodai Capital Management LP now owns 723,624 shares of the company's stock worth $14,060,000 after purchasing an additional 189,441 shares during the period. Ieq Capital LLC grew its holdings in Mattel by 325.8% in the first quarter. Ieq Capital LLC now owns 312,424 shares of the company's stock worth $6,070,000 after purchasing an additional 239,049 shares during the period. Redwood Investment Management LLC acquired a new stake in Mattel in the first quarter worth $1,316,000. Finally, Gamco Investors INC. ET AL grew its holdings in Mattel by 13.1% in the first quarter. Gamco Investors INC. ET AL now owns 52,800 shares of the company's stock worth $1,026,000 after purchasing an additional 6,100 shares during the period. Institutional investors own 97.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MAT. DA Davidson restated a "buy" rating and issued a $30.00 price target on shares of Mattel in a report on Thursday, May 15th. Morgan Stanley lifted their price objective on shares of Mattel from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Mattel from $24.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Citigroup lifted their price objective on shares of Mattel from $22.00 to $24.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Roth Capital set a $22.00 price objective on shares of Mattel and gave the company a "neutral" rating in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.38.

Mattel Stock Performance

MAT traded up $0.11 during midday trading on Wednesday, reaching $18.23. The company had a trading volume of 1,961,775 shares, compared to its average volume of 3,218,383. 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 stock has a market cap of $5.87 billion, a PE ratio of 11.76, a P/E/G ratio of 2.23 and a beta of 0.66. Mattel, Inc. has a 12-month low of $13.94 and a 12-month high of $22.07. The business has a 50-day moving average price of $18.62 and a two-hundred day moving average price of $18.60.

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