Exchange Traded Concepts LLC Purchases New Position in Mattel, Inc. (NASDAQ:MAT)

Exchange Traded Concepts LLC bought a new stake in Mattel, Inc. (NASDAQ:MAT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 38,303 shares of the company's stock, valued at approximately $744,000.

A number of other large investors also recently bought and sold shares of MAT. EdgePoint Investment Group Inc. increased its stake in 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 purchasing an additional 5,984,400 shares during the period. Norges Bank purchased a new stake in Mattel during the fourth quarter worth about $54,929,000. Invesco Ltd. increased its stake in Mattel by 468.3% during the fourth quarter. Invesco Ltd. now owns 3,394,958 shares of the company's stock worth $60,193,000 after purchasing an additional 2,797,559 shares during the period. Freestone Grove Partners LP purchased a new stake in Mattel during the fourth quarter worth about $39,066,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Mattel during the fourth quarter worth about $33,942,000. Institutional investors and hedge funds own 97.15% of the company's stock.

Mattel Stock Up 0.5%

Shares of MAT stock traded up $0.09 during trading hours on Friday, reaching $19.06. 6,495,270 shares of the stock were exchanged, compared to its average volume of 3,661,483. The business's fifty day moving average is $17.82 and its two-hundred day moving average is $18.66. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.43 and a quick ratio of 1.86. Mattel, Inc. has a 12-month low of $13.95 and a 12-month high of $22.07. The firm has a market capitalization of $6.15 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.96 and a beta of 0.66.

Mattel (NASDAQ:MAT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.08. Mattel had a net margin of 9.82% and a return on equity of 25.80%. The firm had revenue of $826.60 million for the quarter, compared to analyst estimates of $791.49 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Mattel, Inc. will post 1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAT. The Goldman Sachs Group cut their price target on shares of Mattel from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Mattel from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Morgan Stanley boosted their price target on shares of Mattel from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. DA Davidson reiterated a "buy" rating and set a $30.00 price target on shares of Mattel in a research note on Thursday, May 15th. Finally, Citigroup boosted their price target on shares of Mattel from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Mattel currently has an average rating of "Moderate Buy" and a consensus target price of $24.43.

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.