SummitTX Capital L.P. Makes New Investment in Mattel, Inc. $MAT

Key Points

• SummitTX Capital acquired 106,402 Mattel shares worth approximately $1.55 million in the first quarter. Institutional investors collectively own 97.15% of the company.
• Mattel reported quarterly revenue of $862.17 million, up 4.3% year over year and above analyst estimates, while adjusted earnings of a $0.20-per-share loss beat expectations.
• Shares opened at $15.39, and analysts maintain a consensus rating of “Hold” with an average price target of $17.33, despite several buy and overweight ratings.

SummitTX Capital L.P. bought a new stake in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 106,402 shares of the company's stock, valued at approximately $1,546,000.

Other hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its holdings in shares of Mattel by 2,959.6% in the first quarter. SJS Investment Consulting Inc. now owns 1,744 shares of the company's stock worth $25,000 after buying an additional 1,687 shares during the period. Quarry LP purchased a new position in Mattel during the 3rd quarter valued at $28,000. Los Angeles Capital Management LLC bought a new position in Mattel in the 4th quarter valued at $31,000. Atlas Capital Advisors Inc. bought a new position in Mattel in the 4th quarter valued at $36,000. Finally, Farther Finance Advisors LLC increased its stake in Mattel by 107.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,023 shares of the company's stock worth $40,000 after purchasing an additional 1,048 shares during the period. Institutional investors own 97.15% of the company's stock.

Mattel Price Performance

MAT opened at $15.39 on Thursday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.35 and a beta of 0.74. The company has a current ratio of 2.06, a quick ratio of 1.50 and a debt-to-equity ratio of 1.11. Mattel, Inc. has a 12-month low of $12.73 and a 12-month high of $22.48. The business's fifty day simple moving average is $14.21 and its 200-day simple moving average is $15.90.

Mattel (NASDAQ:MAT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Mattel had a return on equity of 18.67% and a net margin of 9.27%.The firm had revenue of $862.17 million during the quarter, compared to the consensus estimate of $808.38 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Mattel, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MAT shares. Odeon Capital Group assumed coverage on Mattel in a research report on Thursday, July 16th. They set a "buy" rating for the company. Jefferies Financial Group restated a "buy" rating on shares of Mattel in a report on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Mattel from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Zacks Research raised shares of Mattel from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Finally, Roth Capital dropped their target price on shares of Mattel from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Mattel presently has an average rating of "Hold" and a consensus price target of $17.33.

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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