Texas Permanent School Fund Buys 168,711 Shares of Mattel Inc (NASDAQ:MAT)

Texas Permanent School Fund raised its stake in shares of Mattel Inc (NASDAQ:MAT) by 253.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,184 shares of the company’s stock after acquiring an additional 168,711 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Mattel worth $2,679,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. California Public Employees Retirement System raised its holdings in shares of Mattel by 32.7% in the third quarter. California Public Employees Retirement System now owns 575,500 shares of the company’s stock valued at $6,555,000 after buying an additional 141,900 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of Mattel by 28.8% in the third quarter. Kovack Advisors Inc. now owns 38,137 shares of the company’s stock valued at $434,000 after buying an additional 8,518 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Mattel in the third quarter valued at about $1,002,000. State of Tennessee Treasury Department bought a new position in shares of Mattel in the third quarter valued at about $1,139,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Mattel by 85.3% in the third quarter. Quadrant Capital Group LLC now owns 2,476 shares of the company’s stock valued at $26,000 after buying an additional 1,140 shares during the last quarter.

MAT has been the subject of a number of research analyst reports. UBS Group cut their price target on Mattel from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Cfra reiterated a “hold” rating on shares of Mattel in a research report on Friday, July 19th. SunTrust Banks lowered their price objective on Mattel to $12.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. DZ Bank lowered Mattel from a “hold” rating to a “sell” rating and set a $46.00 price objective for the company. in a research report on Tuesday, October 29th. Finally, BidaskClub upgraded Mattel from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.92.

Shares of MAT stock opened at $12.14 on Friday. The stock has a 50-day moving average price of $11.23 and a 200 day moving average price of $11.33. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 6.30. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -10.65 and a beta of 1.68. Mattel Inc has a 12 month low of $9.06 and a 12 month high of $17.26.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.18. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.44 billion. Mattel had a negative return on equity of 25.87% and a negative net margin of 4.53%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Sell-side analysts predict that Mattel Inc will post -0.45 earnings per share for the current fiscal year.

Mattel Company Profile

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, content, gaming, and lifestyle products for children under the Barbie brand; diecast cars, tracks, playsets, and play products for kids, adults, and collectors under the Hot Wheels brand name; content, toy, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends brands; and dolls and books under the American Girl brand name.

Further Reading: Support Level

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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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