Verition Fund Management LLC Has $4.23 Million Stock Position in Mattel, Inc. (NASDAQ:MAT)

Verition Fund Management LLC raised its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 461.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,095 shares of the company’s stock after purchasing an additional 182,526 shares during the quarter. Verition Fund Management LLC’s holdings in Mattel were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in shares of Mattel by 584.3% in the third quarter. UMB Bank n.a. now owns 1,485 shares of the company’s stock valued at $28,000 after acquiring an additional 1,268 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Mattel in the third quarter valued at approximately $29,000. GAMMA Investing LLC raised its stake in shares of Mattel by 108.5% in the second quarter. GAMMA Investing LLC now owns 2,022 shares of the company’s stock valued at $33,000 after acquiring an additional 1,052 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Mattel by 143.2% in the second quarter. Blue Trust Inc. now owns 2,072 shares of the company’s stock valued at $34,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Mattel in the third quarter valued at approximately $34,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MAT shares. Jefferies Financial Group lifted their target price on shares of Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, October 1st. DA Davidson restated a “buy” rating and issued a $27.00 price objective on shares of Mattel in a research report on Thursday, October 24th. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on shares of Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.75.

Mattel Stock Performance

Shares of Mattel stock opened at $18.80 on Wednesday. The firm has a fifty day moving average of $19.04 and a two-hundred day moving average of $18.39. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.98 and a beta of 0.76. Mattel, Inc. has a 52 week low of $15.87 and a 52 week high of $20.59. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.95 by $0.19. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, equities research analysts predict that Mattel, Inc. will post 1.46 EPS for the current 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.