Mattel, Inc. $MAT Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,111,380 shares of the company’s stock after selling 86,950 shares during the quarter. King Luther Capital Management Corp owned 0.39% of Mattel worth $14,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MAT. Jefferies Financial Group Inc. acquired a new position in shares of Mattel during the third quarter valued at about $5,224,000. AlphaCore Capital LLC bought a new stake in shares of Mattel in the third quarter valued at about $167,000. Fulcrum Asset Management LLP acquired a new stake in Mattel during the third quarter worth about $114,000. Brighton Jones LLC grew its position in Mattel by 17.3% during the third quarter. Brighton Jones LLC now owns 13,534 shares of the company’s stock worth $171,000 after buying an additional 1,992 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Mattel by 5.8% during the third quarter. Pictet Asset Management Holding SA now owns 44,558 shares of the company’s stock valued at $564,000 after acquiring an additional 2,441 shares during the period. 97.15% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Roberto Isaias sold 39,083 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.02, for a total transaction of $587,026.66. Following the completion of the transaction, the executive vice president owned 144,390 shares in the company, valued at $2,168,737.80. This trade represents a 21.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MAT shares. Seaport Research Partners raised Mattel from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, October 12th. Argus reissued a “buy” rating and set a $22.00 price objective on shares of Mattel in a report on Tuesday, August 25th. Odeon Capital Group started coverage on Mattel in a research report on Thursday, July 16th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Mattel in a research note on Wednesday, November 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Mattel in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.09.

Mattel Stock Performance

NASDAQ MAT opened at $15.53 on Friday. Mattel, Inc. has a twelve month low of $12.40 and a twelve month high of $22.48. The company has a quick ratio of 1.43, a current ratio of 1.98 and a debt-to-equity ratio of 1.00. The stock has a market cap of $4.43 billion, a P/E ratio of 9.08, a PEG ratio of 1.74 and a beta of 0.59. The company’s 50-day simple moving average is $15.10 and its 200 day simple moving average is $15.28.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.36. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Mattel had a net margin of 9.04% and a return on equity of 20.02%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. As a group, research analysts forecast that Mattel, Inc. will post 1.33 earnings per share for the current fiscal year.

About Mattel

Mattel, Inc. is a global toy and family entertainment company founded in 1945 and headquartered in El Segundo, California. It designs, manufactures, and markets toys and games, along with related consumer products and entertainment content. Its well-known brands include Barbie, Hot Wheels, Fisher-Price, American Girl, and UNO. Mattel also develops movies, television programs, digital games, and other content based on its brands, and licenses its intellectual property for products and experiences.