Victory Capital Management Inc. Sells 261,032 Shares of Mattel, Inc. (NASDAQ:MAT)

Victory Capital Management Inc. decreased its position in Mattel, Inc. (NASDAQ:MAT - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,934,556 shares of the company's stock after selling 261,032 shares during the quarter. Victory Capital Management Inc. owned approximately 1.84% of Mattel worth $115,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Mattel in the 4th quarter worth about $660,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mattel by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 81,906 shares of the company's stock valued at $1,452,000 after acquiring an additional 1,334 shares during the period. HighTower Advisors LLC grew its stake in shares of Mattel by 5.4% during the 4th quarter. HighTower Advisors LLC now owns 30,923 shares of the company's stock valued at $548,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Mattel by 150.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company's stock worth $27,000 after purchasing an additional 926 shares during the period. Finally, Xponance Inc. boosted its stake in Mattel by 1.6% in the 4th quarter. Xponance Inc. now owns 46,262 shares of the company's stock worth $820,000 after purchasing an additional 739 shares during the period. 97.15% of the stock is currently owned by institutional investors.

Mattel Trading Up 0.6%

Shares of NASDAQ:MAT opened at $19.60 on Thursday. Mattel, Inc. has a 52-week low of $13.95 and a 52-week high of $22.07. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.03 and a beta of 0.66. The company has a quick ratio of 1.86, a current ratio of 2.43 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $19.37 and a 200-day moving average price of $18.82.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. The firm had revenue of $826.60 million during the quarter, compared to analysts' expectations of $791.49 million. Mattel had a return on equity of 25.80% and a net margin of 9.82%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. Equities analysts predict that Mattel, Inc. will post 1.7 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on MAT shares. Roth Capital set a $22.00 price objective on Mattel and gave the stock a "neutral" rating in a report on Friday, July 11th. Morgan Stanley increased their target price on 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 reissued a "buy" rating and set a $30.00 price target on shares of Mattel in a research report on Thursday, May 15th. Wall Street Zen lowered Mattel from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group reduced their target price on shares of Mattel from $24.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.13.

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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