Citigroup Inc. Buys 238,884 Shares of Mattel, Inc. (NASDAQ:MAT)

Citigroup Inc. grew its position in shares of Mattel, Inc. (NASDAQ:MAT) by 449.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 291,983 shares of the company’s stock after purchasing an additional 238,884 shares during the quarter. Citigroup Inc.’s holdings in Mattel were worth $5,562,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Mattel by 2.8% in 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 purchasing an additional 114,305 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Mattel by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,291,976 shares of the company’s stock worth $119,862,000 after buying an additional 27,204 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of Mattel during the 3rd quarter worth approximately $8,997,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Mattel in the third quarter worth $1,140,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Mattel in the 3rd quarter worth about $591,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Mattel Stock Performance

Shares of MAT opened at $19.02 on Monday. Mattel, Inc. has a 52-week low of $15.87 and a 52-week high of $20.59. The company has a market capitalization of $6.41 billion, a PE ratio of 11.89, a P/E/G ratio of 0.98 and a beta of 0.78. The company has a 50-day simple moving average of $19.04 and a 200-day simple moving average of $18.39. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01.

Mattel (NASDAQ:MAT) last posted its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts predict that Mattel, Inc. will post 1.46 earnings per share for the current fiscal year.

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.