Ranmore Fund Management Ltd Acquires New Shares in Mattel, Inc. (NASDAQ:MAT)

Ranmore Fund Management Ltd purchased a new position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 740,000 shares of the company's stock, valued at approximately $13,120,000. Mattel makes up about 12.2% of Ranmore Fund Management Ltd's holdings, making the stock its 2nd biggest position. Ranmore Fund Management Ltd owned about 0.22% of Mattel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MAT. CIBC Asset Management Inc lifted its stake in Mattel by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,962 shares of the company's stock valued at $194,000 after purchasing an additional 601 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Mattel by 5.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 12,918 shares of the company's stock worth $229,000 after acquiring an additional 675 shares in the last quarter. Xponance Inc. boosted its stake in shares of Mattel by 1.6% during the 4th quarter. Xponance Inc. now owns 46,262 shares of the company's stock worth $820,000 after acquiring an additional 739 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Mattel by 26.6% in the 4th quarter. GAMMA Investing LLC now owns 3,541 shares of the company's stock worth $63,000 after acquiring an additional 744 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Mattel by 150.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company's stock worth $27,000 after purchasing an additional 926 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MAT. Jefferies Financial Group raised Mattel from a "hold" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $28.00 in a research note on Wednesday, February 5th. StockNews.com raised shares of Mattel from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. DA Davidson upped their price target on shares of Mattel from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.57.

Mattel Stock Up 1.8 %

Mattel stock traded up $0.27 during trading hours on Friday, hitting $15.04. The company had a trading volume of 6,031,858 shares, compared to its average volume of 3,527,256. Mattel, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $22.07. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.38 and a quick ratio of 2.00. The firm has a market capitalization of $4.86 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. The firm's fifty day moving average is $19.79 and its 200-day moving average is $19.09.

Mattel (NASDAQ:MAT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the firm earned $0.29 EPS. On average, research analysts forecast 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.