Hennessy Advisors Inc. Sells 271,900 Shares of Mattel, Inc. $MAT

Hennessy Advisors Inc. lowered its position in shares of Mattel, Inc. (NASDAQ:MAT) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,463,400 shares of the company’s stock after selling 271,900 shares during the period. Mattel accounts for approximately 1.6% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Hennessy Advisors Inc. owned approximately 0.76% of Mattel worth $48,578,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MAT. AQR Capital Management LLC increased its stake in shares of Mattel by 386.2% during the first quarter. AQR Capital Management LLC now owns 7,260,394 shares of the company’s stock worth $139,218,000 after purchasing an additional 5,767,170 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Mattel by 247.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company’s stock worth $129,240,000 after purchasing an additional 4,737,199 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Mattel by 21.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,089,837 shares of the company’s stock worth $157,179,000 after purchasing an additional 1,416,542 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Mattel by 50.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,153,851 shares of the company’s stock worth $80,709,000 after purchasing an additional 1,393,000 shares during the period. Finally, Nuveen LLC bought a new position in shares of Mattel during the first quarter worth approximately $13,865,000. Institutional investors own 97.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MAT. Wall Street Zen lowered Mattel from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Weiss Ratings restated a “hold (c)” rating on shares of Mattel in a research note on Saturday, September 27th. Roth Capital set a $22.00 price objective on Mattel and gave the stock a “neutral” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on Mattel from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Citigroup raised their price objective on Mattel from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.38.

Mattel Trading Up 4.9%

Shares of MAT stock opened at $18.06 on Friday. The stock’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $18.09. The company has a market cap of $5.82 billion, a PE ratio of 11.65, a P/E/G ratio of 2.18 and a beta of 0.68. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.62.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.09 billion. Mattel had a return on equity of 25.19% and a net margin of 9.87%.The company’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. Equities analysts predict that Mattel, Inc. will post 1.7 EPS for the current fiscal 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.