Federated Hermes Inc. Cuts Stock Holdings in Mattel, Inc. (NASDAQ:MAT)

Federated Hermes Inc. cut its position in shares of Mattel, Inc. (NASDAQ:MAT) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,521 shares of the company’s stock after selling 4,333 shares during the period. Federated Hermes Inc.’s holdings in Mattel were worth $648,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MAT. EverSource Wealth Advisors LLC lifted its position in shares of Mattel by 150.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company’s stock valued at $27,000 after buying an additional 926 shares in the last quarter. West Oak Capital LLC raised its position in Mattel by 9,775.0% during the fourth quarter. West Oak Capital LLC now owns 1,975 shares of the company’s stock worth $35,000 after acquiring an additional 1,955 shares during the period. TD Private Client Wealth LLC purchased a new position in Mattel during the fourth quarter valued at $51,000. GAMMA Investing LLC grew its position in shares of Mattel by 26.6% in the fourth quarter. GAMMA Investing LLC now owns 3,541 shares of the company’s stock valued at $63,000 after purchasing an additional 744 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Mattel by 175.1% during the fourth quarter. Venturi Wealth Management LLC now owns 4,669 shares of the company’s stock worth $83,000 after purchasing an additional 2,972 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MAT shares. DA Davidson raised shares of Mattel to a “strong-buy” rating in a research note on Monday. Morgan Stanley raised their target price on Mattel from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com upgraded Mattel from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group upgraded Mattel from a “hold” rating to a “buy” rating and raised their price objective for the company from $20.00 to $28.00 in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.57.

Mattel Stock Performance

NASDAQ MAT opened at $14.64 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.00 and a current ratio of 2.38. The stock’s fifty day moving average is $19.41 and its two-hundred day moving average is $19.01. The firm has a market capitalization of $4.73 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. Mattel, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $22.07.

Mattel (NASDAQ:MAT) last announced its quarterly 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 quarter in the previous year, the business posted $0.29 EPS. On average, research analysts anticipate that Mattel, Inc. will post 1.7 earnings per share for the current year.

Mattel 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.