Massachusetts Financial Services Co. MA Acquires 157,881 Shares of Mattel, Inc. $MAT

Massachusetts Financial Services Co. MA raised its holdings in Mattel, Inc. (NASDAQ:MAT) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,779,442 shares of the company’s stock after acquiring an additional 157,881 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.79% of Mattel worth $97,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MAT. Parallel Advisors LLC lifted its position in shares of Mattel by 189.9% in the second quarter. Parallel Advisors LLC now owns 1,609 shares of the company’s stock worth $32,000 after buying an additional 1,054 shares during the last quarter. Traub Capital Management LLC acquired a new position in shares of Mattel during the second quarter valued at about $40,000. IFP Advisors Inc lifted its position in shares of Mattel by 90.6% in the 2nd quarter. IFP Advisors Inc now owns 2,215 shares of the company’s stock worth $44,000 after acquiring an additional 1,053 shares during the period. Employees Retirement System of Texas bought a new position in Mattel in the second quarter worth $55,000. Finally, True Wealth Design LLC lifted its holdings in shares of Mattel by 409.1% during the 2nd quarter. True Wealth Design LLC now owns 2,846 shares of the company’s stock worth $56,000 after acquiring an additional 2,287 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.

Analysts Set New Price Targets

MAT has been the topic of a number of recent analyst reports. Roth Capital set a $20.00 price target on shares of Mattel and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Seaport Res Ptn raised Mattel to a “hold” rating in a research note on Monday, November 10th. DA Davidson dropped their price objective on Mattel from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Finally, Cfra Research lowered shares of Mattel from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Mattel Stock Down 1.9%

NASDAQ MAT opened at $20.63 on Wednesday. The business has a fifty day moving average price of $20.45 and a two-hundred day moving average price of $18.99. The stock has a market capitalization of $6.41 billion, a PE ratio of 15.40, a PEG ratio of 2.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.60 and a quick ratio of 1.18. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.25.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). Mattel had a net margin of 8.27% and a return on equity of 20.60%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Equities analysts expect that Mattel, Inc. will post 1.7 earnings per share for the current fiscal year.

About Mattel

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.