Norges Bank Takes $71.26 Million Position in Mattel, Inc. (NASDAQ:MAT)

Norges Bank acquired a new stake in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,774,133 shares of the company's stock, valued at approximately $71,256,000. Norges Bank owned approximately 1.07% of Mattel as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jericho Capital Asset Management L.P. acquired a new position in Mattel during the 3rd quarter valued at approximately $76,819,000. Victory Capital Management Inc. increased its position in shares of Mattel by 12.9% in the 4th quarter. Victory Capital Management Inc. now owns 7,541,422 shares of the company's stock valued at $142,382,000 after acquiring an additional 861,638 shares during the period. HS Management Partners LLC raised its stake in Mattel by 21.5% in the 4th quarter. HS Management Partners LLC now owns 4,603,400 shares of the company's stock worth $86,912,000 after acquiring an additional 813,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Mattel by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,039,571 shares of the company's stock worth $76,272,000 after acquiring an additional 716,558 shares during the period. Finally, Kingdon Capital Management L.L.C. purchased a new stake in Mattel during the 3rd quarter valued at about $14,320,000. Hedge funds and other institutional investors own 97.15% of the company's stock.

Insider Buying and Selling at Mattel

In other news, insider Steve Totzke sold 23,662 shares of the business's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the completion of the sale, the insider now owns 152,018 shares of the company's stock, valued at $2,871,620.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mattel news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total value of $407,763.65. Following the completion of the sale, the executive vice president now owns 106,086 shares in the company, valued at approximately $1,997,599.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve Totzke sold 23,662 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $18.89, for a total value of $446,975.18. Following the transaction, the insider now owns 152,018 shares in the company, valued at $2,871,620.02. The disclosure for this sale can be found here. Insiders have sold a total of 90,533 shares of company stock valued at $1,709,321 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAT. Citigroup raised their price objective on Mattel from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Roth Mkm restated a "neutral" rating and set a $21.00 price objective on shares of Mattel in a research note on Wednesday, April 24th. Jefferies Financial Group upped their price objective on shares of Mattel from $19.00 to $20.00 and gave the company a "hold" rating in a report on Friday, March 15th. Bank of America raised their target price on shares of Mattel from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, DA Davidson upped their price target on shares of Mattel from $26.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.78.

Mattel Price Performance

Shares of Mattel stock traded up $0.05 on Monday, hitting $17.58. The company's stock had a trading volume of 3,231,000 shares, compared to its average volume of 2,982,390. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.98. Mattel, Inc. has a 1 year low of $16.20 and a 1 year high of $22.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.88 and a current ratio of 2.49. The firm has a fifty day moving average price of $18.77 and a 200-day moving average price of $18.84.

Mattel (NASDAQ:MAT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The business had revenue of $809.50 million during the quarter, compared to analysts' expectations of $833.52 million. During the same period in the previous year, the business earned ($0.24) earnings per share. The business's revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mattel, Inc. will post 1.4 earnings per share for the current fiscal year.

Mattel Profile

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.