Legal & General Group Plc Acquires Shares of 373,028 Mattel, Inc. $MAT

Key Points

• Legal & General acquired 373,028 Mattel shares worth approximately $5.18 million, joining other large institutions that have increased their holdings. Institutional investors and hedge funds collectively own 97.15% of Mattel.
• Mattel reported quarterly revenue of $1.13 billion, up 10.5% year over year, but earnings of $0.01 per share fell short of estimates. The stock opened at $14.30, near its 52-week low, and was down 2.3%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $17.80; targets range from $12 to $22. An executive also sold 39,083 shares for about $587,000.

Legal & General Group Plc bought a new position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 373,028 shares of the company's stock, valued at approximately $5,178,000. Legal & General Group Plc owned approximately 0.13% of Mattel as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. EdgePoint Investment Group Inc. lifted its stake in shares of Mattel by 3.8% in the first quarter. EdgePoint Investment Group Inc. now owns 49,140,882 shares of the company's stock worth $714,017,000 after buying an additional 1,799,640 shares in the last quarter. BlackRock Inc. acquired a new stake in Mattel in the 2nd quarter valued at about $363,273,000. Dimensional Fund Advisors LP lifted its stake in Mattel by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,052,845 shares of the company's stock worth $160,591,000 after purchasing an additional 783,102 shares in the last quarter. LSV Asset Management lifted its stake in Mattel by 1.8% in the 4th quarter. LSV Asset Management now owns 6,126,432 shares of the company's stock worth $121,548,000 after purchasing an additional 108,622 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Mattel by 15.1% during the 4th quarter. Morgan Stanley now owns 5,350,290 shares of the company's stock worth $106,150,000 after purchasing an additional 703,806 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Mattel Stock Down 2.3%

MAT stock opened at $14.30 on Friday. The firm has a market cap of $4.09 billion, a PE ratio of 10.51, a PEG ratio of 1.60 and a beta of 0.72. 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 firm's 50 day moving average price is $14.40 and its 200-day moving average price is $14.86. Mattel, Inc. has a one year low of $12.73 and a one year high of $22.48.

Mattel (NASDAQ:MAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. Mattel had a net margin of 7.79% and a return on equity of 16.20%. The company's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. Mattel has set its FY 2026 guidance at 1.270-1.390 EPS. On average, equities research analysts anticipate that Mattel, Inc. will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MAT shares. Roth Capital dropped their price target on Mattel from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, July 14th. Odeon Capital Group began coverage on Mattel in a research note on Thursday, July 16th. They set a "buy" rating on the stock. Weiss Ratings cut Mattel from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Argus reaffirmed a "buy" rating and issued a $22.00 target price on shares of Mattel in a research note on Tuesday, August 25th. Finally, The Goldman Sachs Group lowered Mattel from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $15.00 to $12.00 in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.80.

Insider Buying and Selling

In other news, EVP Roberto Isaias sold 39,083 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.02, for a total value of $587,026.66. Following the transaction, the executive vice president owned 144,390 shares of the company's stock, valued at $2,168,737.80. This represents a 21.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Mattel Company Profile

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.

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