LSV Asset Management Buys 578,677 Shares of Mattel, Inc. (NASDAQ:MAT)

Key Points

• LSV Asset Management increased its ownership in Mattel, Inc. by 14.1%, acquiring 578,677 shares and holding a total of 4,673,142 shares valued at approximately $90.8 million.
• Several institutional investors have recently boosted their positions in Mattel, with EdgePoint Investment Group increasing its stake by 14.9% to 46,174,919 shares, while Invesco Ltd. raised its stake by a significant 468.3%.
• Mattel reported a net margin of 9.87% and earnings per share of $0.19 for the last quarter, surpassing expectations but showing a 5.7% decrease in revenue year-over-year.

LSV Asset Management grew its stake in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 14.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,673,142 shares of the company's stock after acquiring an additional 578,677 shares during the period. LSV Asset Management owned about 1.45% of Mattel worth $90,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EdgePoint Investment Group Inc. raised its stake in shares of Mattel by 14.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company's stock valued at $818,681,000 after acquiring an additional 5,984,400 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mattel by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,673,295 shares of the company's stock valued at $118,318,000 after acquiring an additional 453,390 shares in the last quarter. Invesco Ltd. raised its stake in shares of Mattel by 468.3% during the fourth quarter. Invesco Ltd. now owns 3,394,958 shares of the company's stock valued at $60,193,000 after acquiring an additional 2,797,559 shares in the last quarter. Northern Trust Corp raised its stake in Mattel by 23.3% in the fourth quarter. Northern Trust Corp now owns 3,132,743 shares of the company's stock worth $55,544,000 after buying an additional 591,169 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Mattel by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 2,513,336 shares of the company's stock worth $48,834,000 after buying an additional 54,430 shares in the last quarter. Institutional investors own 97.15% of the company's stock.

Analyst Upgrades and Downgrades

MAT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Mattel from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Roth Capital set a $22.00 price objective on shares of Mattel and gave the stock a "neutral" rating in a research note on Friday, July 11th. Citigroup boosted their price objective 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. DA Davidson reissued a "buy" rating and issued a $30.00 price objective on shares of Mattel in a research note on Thursday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Mattel from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy 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 opened at $16.86 on Friday. The firm's fifty day simple moving average is $19.14 and its two-hundred day simple moving average is $18.84. The company has a current ratio of 1.62, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. Mattel, Inc. has a 12-month low of $13.94 and a 12-month high of $22.07. The firm has a market capitalization of $5.43 billion, a P/E ratio of 10.88, a P/E/G ratio of 2.05 and a beta of 0.62.

Mattel (NASDAQ:MAT - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. Analysts forecast 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.

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