Merit Financial Group LLC Acquires New Holdings in Mattel, Inc. (NASDAQ:MAT)

Merit Financial Group LLC acquired a new stake in Mattel, Inc. (NASDAQ:MAT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 27,507 shares of the company’s stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. raised its position in shares of Mattel by 14.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company’s stock worth $818,681,000 after buying an additional 5,984,400 shares in the last quarter. Vanguard Group Inc. lifted its position in Mattel by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 33,134,174 shares of the company’s stock worth $587,469,000 after buying an additional 355,769 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Mattel by 15.9% during the 4th quarter. Franklin Resources Inc. now owns 10,843,505 shares of the company’s stock valued at $192,255,000 after buying an additional 1,491,282 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mattel by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,673,295 shares of the company’s stock valued at $118,318,000 after buying an additional 453,390 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Mattel by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,390,675 shares of the company’s stock valued at $77,847,000 after buying an additional 127,064 shares during the period. 97.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MAT has been the subject of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Mattel in a research note on Thursday, May 15th. Citigroup boosted their target price on shares of Mattel from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group cut their price objective on shares of Mattel from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Mattel from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Mattel from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.14.

Mattel Price Performance

Shares of Mattel stock opened at $19.06 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.00 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 2.35 and a beta of 0.66. Mattel, Inc. has a 1-year low of $13.95 and a 1-year high of $22.07. The firm’s 50-day moving average price is $17.18 and its two-hundred day moving average price is $18.65.

Mattel (NASDAQ:MAT) last announced its earnings results on Monday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. Mattel had a net margin of 10.07% and a return on equity of 25.94%. The company had revenue of $826.60 million for the quarter, compared to analyst estimates of $791.49 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Mattel’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Mattel, Inc. will post 1.7 earnings per share for the current fiscal 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.