EdgePoint Investment Group Inc. Trims Stake in Mattel, Inc. $MAT

Key Points

• EdgePoint Investment Group Inc. has reduced its stake in Mattel, Inc. by 21.7%, now owning about 5.7% of the company, which is its sixth largest position.
• Despite a revenue drop of 5.7% year-over-year, Mattel reported $0.19 EPS, surpassing the consensus estimate of $0.16.
• Analysts maintain a consensus rating of “Moderate Buy” for Mattel with an average price target of $24.38, following mixed ratings from various research firms.

EdgePoint Investment Group Inc. lessened its position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 21.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,158,043 shares of the company's stock after selling 10,016,876 shares during the period. Mattel accounts for 5.7% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 6th largest position. EdgePoint Investment Group Inc. owned about 11.20% of Mattel worth $702,551,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Mattel by 21.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,089,837 shares of the company's stock valued at $157,179,000 after buying an additional 1,416,542 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Mattel by 386.2% during the 1st quarter. AQR Capital Management LLC now owns 7,260,394 shares of the company's stock valued at $139,218,000 after buying an additional 5,767,170 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Mattel by 247.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company's stock valued at $129,240,000 after buying an additional 4,737,199 shares during the last quarter. LSV Asset Management lifted its position in shares of Mattel by 14.1% during the 1st quarter. LSV Asset Management now owns 4,673,142 shares of the company's stock valued at $90,799,000 after buying an additional 578,677 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of 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. Hedge funds and other institutional investors own 97.15% of the company's stock.

Wall Street Analyst Weigh In

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

Mattel Price Performance

NASDAQ MAT traded down $0.32 during trading on Monday, reaching $18.50. The company's stock had a trading volume of 2,435,532 shares, compared to its average volume of 4,047,141. The stock has a market capitalization of $5.96 billion, a PE ratio of 11.94, a P/E/G ratio of 2.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.62 and a quick ratio of 1.12. The firm has a fifty day moving average of $18.59 and a 200 day moving average of $18.51. Mattel, Inc. has a one year low of $13.94 and a one year high of $22.07.

Mattel (NASDAQ:MAT - Get Free Report) last announced 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 return on equity of 25.19% and a net margin of 9.87%.The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. Analysts expect that Mattel, Inc. will post 1.7 EPS for the current fiscal year.

About Mattel

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.