Pacer Advisors Inc. Sells 6,126,512 Shares of Mattel, Inc. (NASDAQ:MAT)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Mattel, Inc., selling 6,126,512 shares, leaving it with a total of 2,236,734 shares, which is a 73.3% decrease in holdings.
• Several institutional investors increased their positions in Mattel during Q1, with Trust Co. of Vermont growing its holdings by 995.8%.
• Wall Street analysts have mixed views on Mattel, with price targets ranging from $17.00 to $25.00 and a consensus rating of "Moderate Buy."

Pacer Advisors Inc. reduced its stake in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 73.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,236,734 shares of the company's stock after selling 6,126,512 shares during the period. Pacer Advisors Inc. owned 0.69% of Mattel worth $43,460,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers raised its position in Mattel by 87.9% in the first quarter. Cetera Investment Advisers now owns 22,509 shares of the company's stock worth $437,000 after acquiring an additional 10,528 shares in the last quarter. Oak Thistle LLC grew its position in Mattel by 250.9% in the first quarter. Oak Thistle LLC now owns 91,857 shares of the company's stock valued at $1,785,000 after acquiring an additional 65,683 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Mattel by 47.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 329,254 shares of the company's stock worth $6,397,000 after purchasing an additional 105,558 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Mattel during the first quarter worth $292,000. Finally, CWM LLC boosted its holdings in Mattel by 600.1% in the first quarter. CWM LLC now owns 84,926 shares of the company's stock valued at $1,650,000 after acquiring an additional 72,796 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company's stock.

Mattel Stock Performance

Shares of Mattel stock traded down $0.24 on Wednesday, reaching $17.18. The stock had a trading volume of 1,025,911 shares, compared to its average volume of 4,136,672. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.07. The business's 50-day moving average price is $19.27 and its two-hundred day moving average price is $18.87. The stock has a market cap of $5.55 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 2.15 and a beta of 0.66. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.62.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on MAT. Citigroup lifted their target price on Mattel from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, June 16th. DA Davidson reissued a "buy" rating and set a $30.00 price target on shares of Mattel in a report on Thursday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Mattel from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley increased their price target on Mattel from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered Mattel from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Mattel has an average rating of "Moderate Buy" and an average target price of $24.38.

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.