Freestone Grove Partners LP Acquires Shares of 2,203,382 Mattel, Inc. (NASDAQ:MAT)

Freestone Grove Partners LP bought a new position in shares of Mattel, Inc. (NASDAQ:MAT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,203,382 shares of the company’s stock, valued at approximately $39,066,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its position in Mattel by 19.4% during the 4th quarter. Comerica Bank now owns 312,466 shares of the company’s stock worth $5,540,000 after buying an additional 50,786 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Mattel during the fourth quarter worth about $139,000. Schonfeld Strategic Advisors LLC raised its holdings in Mattel by 59.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,646,146 shares of the company’s stock worth $29,186,000 after purchasing an additional 613,179 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Mattel by 94.8% in the 4th quarter. AQR Capital Management LLC now owns 1,493,224 shares of the company’s stock valued at $26,370,000 after purchasing an additional 726,759 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Mattel by 23.3% in the fourth quarter. Northern Trust Corp now owns 3,132,743 shares of the company’s stock valued at $55,544,000 after buying an additional 591,169 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Mattel Stock Performance

NASDAQ MAT opened at $15.89 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.38 and a debt-to-equity ratio of 1.03. Mattel, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $22.07. The business has a fifty day moving average of $18.13 and a 200-day moving average of $18.74. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51.

Mattel (NASDAQ:MAT) last announced its earnings results on Tuesday, February 4th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.15. Mattel had a net margin of 10.07% and a return on equity of 25.94%. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, analysts predict that Mattel, Inc. will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MAT shares. Jefferies Financial Group upgraded shares of Mattel from a “hold” rating to a “buy” rating and lifted their price target for the company from $20.00 to $28.00 in a research report on Wednesday, February 5th. DA Davidson upgraded Mattel to a “strong-buy” rating in a research report on Monday, April 14th. Morgan Stanley raised their price target on Mattel from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mattel currently has an average rating of “Moderate Buy” and a consensus price target of $26.40.

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.