Edgepoint Investment Group, Inc. recently announced the acquisition of new stake in Mattel Inc. (NASDAQ:MAT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 32.77% to 44.2 million shares with purchase of 10.91 million shares. This fresh investment now brings its stake to 12.43% valued currently at $795.54 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.35 million to 33.98 million shares. And Capital Research & Management Co has lifted its position by 24.48% or 3.34 million shares – to 16.97 million shares.
With over 1.93 million Mattel Inc. (MAT) shares trading Friday and a closing price of $18.55 on the day, the dollar volume was approximately $35.85 million. The shares have shown a positive half year performance of 8.61% and its price on 05/19/23 lost nearly -2.42%. Currently, there are 354.94M common shares owned by the public and among those 352.67M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for MAT have a consensus price objective of $23.00. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $18.00. The average price target is 19.0% above its recent price level and a downside to the estimated low will see the stock lose -3.06% over that period. But an upside of 31.3% will see the stock hit the forecast high price target while median target price for the stock is $23.00.
Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 1,895,952 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 888,730 shares.
The top 3 mutual fund holders in Mattel Inc. are Vanguard PRIMECAP Fund, American Funds Growth Fund of Ame, and EdgePoint Global Portfolio. Vanguard PRIMECAP Fund owns 27.32 million shares of the company’s stock, all valued at over $491.72 million. The company sold 19000.0 shares recently to bring their total holdings to about 7.68% of the shares outstanding. American Funds Growth Fund of Ame sold -1.62 million shares to see its total holdings shrink to 21.93 million shares valued at over $394.66 million and representing 6.16% of the shares outstanding. EdgePoint Global Portfolio sold -3.65 million shares to bring its total holdings to over 18.16 million shares at a value of $326.83 million. EdgePoint Global Portfolio now owns shares totaling to 5.11% of the shares outstanding.
However, the script later moved the day high at 19.10, down -2.42%. The company’s stock has a 5-day price change of 0.27% and -3.08% over the past three months. MAT shares are trading 3.98% year to date (YTD), with the 12-month market performance down to -25.05% lower. It has a 12-month low price of $15.36 and touched a high of $25.56 over the same period. MAT has an average intraday trading volume of 2.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.75%, 6.01%, and -2.85% respectively.
Institutional ownership of Mattel Inc. (NASDAQ: MAT) shares accounts for 99.80% of the company’s 354.94M shares outstanding. Mutual fund holders own 30.15%, while other institutional holders and individual stakeholders account for 68.00% and 1.80% respectively.
It has a market capitalization of $6.73B and a beta (3y monthly) value of 1.16. The stock’s trailing 12-month PE ratio is 25.14, while the earnings-per-share (ttm) stands at $0.74. The company has a PEG of 4.93 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 1.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.80% over the week and 2.77% over the month.
Analysts forecast that Mattel Inc. (MAT) will achieve an EPS of -$0.02 for the current quarter, $0.86 for the next quarter and $1.49 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -56.70%, and 27.02% over the next financial year. EPS should shrink at an annualized rate of 5.10% over the next five years, compared to 18.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Mattel Inc. (MAT) as a “Strong Buy” at a consensus score of 1.80. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 2 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
