Mattel, Inc. $MAT Shares Bought by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd lifted its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 31.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,165,514 shares of the company’s stock after acquiring an additional 275,514 shares during the period. Mattel accounts for about 9.2% of Ranmore Fund Management Ltd’s portfolio, making the stock its 3rd largest position. Ranmore Fund Management Ltd owned approximately 0.36% of Mattel worth $22,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAT. AlphaQuest LLC increased its stake in shares of Mattel by 13.0% in the first quarter. AlphaQuest LLC now owns 4,782 shares of the company’s stock worth $93,000 after purchasing an additional 551 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Mattel by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 94,400 shares of the company’s stock valued at $1,834,000 after acquiring an additional 900 shares during the last quarter. State of Michigan Retirement System raised its position in Mattel by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 80,633 shares of the company’s stock worth $1,567,000 after purchasing an additional 900 shares during the period. IFP Advisors Inc lifted its stake in Mattel by 90.6% in the second quarter. IFP Advisors Inc now owns 2,215 shares of the company’s stock worth $44,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Mattel by 189.9% during the second quarter. Parallel Advisors LLC now owns 1,609 shares of the company’s stock valued at $32,000 after buying an additional 1,054 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAT. JPMorgan Chase & Co. reduced their price target on Mattel from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. DA Davidson dropped their price target on shares of Mattel from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Cfra Research lowered shares of Mattel from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Roth Capital set a $20.00 target price on Mattel and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Mattel in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.57.

Mattel Trading Up 0.4%

Mattel stock opened at $19.23 on Wednesday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.21 and a beta of 0.76. Mattel, Inc. has a 12-month low of $13.94 and a 12-month high of $22.07. The firm has a 50 day moving average of $18.04 and a 200 day moving average of $18.40. The company has a current ratio of 1.60, a quick ratio of 1.18 and a debt-to-equity ratio of 0.77.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a return on equity of 20.60% and a net margin of 8.27%.The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. As a group, research analysts predict that Mattel, Inc. will post 1.7 earnings per share 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.