Verition Fund Management LLC Has $4.23 Million Position in Mattel, Inc. (NASDAQ:MAT)

Verition Fund Management LLC increased its position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 461.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,095 shares of the company's stock after purchasing an additional 182,526 shares during the quarter. Verition Fund Management LLC owned 0.07% of Mattel worth $4,231,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barington Capital Group L.P. raised its position in shares of Mattel by 25.3% during the 2nd quarter. Barington Capital Group L.P. now owns 595,000 shares of the company's stock worth $9,675,000 after purchasing an additional 120,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mattel by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,263,611 shares of the company's stock valued at $81,222,000 after acquiring an additional 114,305 shares during the period. SG Americas Securities LLC bought a new position in shares of Mattel during the second quarter worth about $312,000. Citigroup Inc. increased its holdings in shares of Mattel by 449.9% in the 3rd quarter. Citigroup Inc. now owns 291,983 shares of the company's stock worth $5,562,000 after acquiring an additional 238,884 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Mattel by 101.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 168,410 shares of the company's stock valued at $3,208,000 after purchasing an additional 84,626 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company's stock.

Mattel Price Performance

Shares of NASDAQ MAT traded up $1.06 during mid-day trading on Wednesday, reaching $19.86. The company had a trading volume of 5,940,813 shares, compared to its average volume of 3,238,510. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $20.59. The stock has a market cap of $6.69 billion, a PE ratio of 11.75, a P/E/G ratio of 0.98 and a beta of 0.76. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $19.03 and a two-hundred day moving average price of $18.39.

Mattel (NASDAQ:MAT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.19. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Mattel, Inc. will post 1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of Mattel from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Morgan Stanley boosted their price target on Mattel from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. DA Davidson reissued a "buy" rating and set a $27.00 price target on shares of Mattel in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Finally, Jefferies Financial Group raised their target price on shares of Mattel from $18.25 to $20.00 and gave the company a "hold" rating in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Mattel currently has an average rating of "Hold" and an average price target of $23.75.

About Mattel

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.