Ranmore Fund Management Ltd Has $22.98 Million Stake in Mattel, Inc. $MAT

Ranmore Fund Management Ltd grew its position in Mattel, Inc. (NASDAQ:MAT) by 31.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,165,514 shares of the company’s stock after purchasing an additional 275,514 shares during the period. Mattel comprises about 9.2% of Ranmore Fund Management Ltd’s investment portfolio, making the stock its 3rd largest holding. Ranmore Fund Management Ltd’s holdings in Mattel were worth $22,984,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Mattel by 21.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,089,837 shares of the company’s stock worth $157,179,000 after buying an additional 1,416,542 shares during the period. AQR Capital Management LLC raised its stake in Mattel by 386.2% in the first quarter. AQR Capital Management LLC now owns 7,260,394 shares of the company’s stock worth $139,218,000 after buying an additional 5,767,170 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Mattel by 247.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company’s stock valued at $129,240,000 after acquiring an additional 4,737,199 shares in the last quarter. LSV Asset Management increased its holdings in shares of Mattel by 14.1% in the 1st quarter. LSV Asset Management now owns 4,673,142 shares of the company’s stock valued at $90,799,000 after acquiring an additional 578,677 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Mattel by 50.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,851 shares of the company’s stock worth $80,709,000 after acquiring an additional 1,393,000 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mattel in a research report on Wednesday, October 8th. DA Davidson cut their price target on shares of Mattel from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Seaport Res Ptn upgraded Mattel to a “hold” rating in a report on Monday. Cfra Research lowered Mattel from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Mattel has a consensus rating of “Hold” and a consensus target price of $22.57.

Mattel Price Performance

Shares of NASDAQ MAT opened at $19.23 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.60 and a quick ratio of 1.18. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.21 and a beta of 0.76. The firm’s 50 day simple moving average is $18.04 and its 200-day simple moving average is $18.40. Mattel, Inc. has a 12 month low of $13.94 and a 12 month high of $22.07.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Tuesday, October 21st. The company reported $0.89 earnings per share 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 analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. Analysts expect that Mattel, Inc. will post 1.7 EPS for the current year.

Mattel Company 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.