Hennessy Advisors Inc. Invests $53.24 Million in Mattel, Inc. (NASDAQ:MAT)

Hennessy Advisors Inc. acquired a new stake in Mattel, Inc. (NASDAQ:MAT) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,002,700 shares of the company’s stock, valued at approximately $53,238,000. Mattel makes up about 1.6% of Hennessy Advisors Inc.’s holdings, making the stock its 17th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Mattel in the 4th quarter valued at about $7,431,000. Oak Thistle LLC raised its position in shares of Mattel by 122.7% during the fourth quarter. Oak Thistle LLC now owns 26,174 shares of the company’s stock worth $464,000 after acquiring an additional 14,421 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Mattel by 99.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 21,603 shares of the company’s stock worth $383,000 after acquiring an additional 10,783 shares during the period. West Oak Capital LLC boosted its holdings in Mattel by 9,775.0% in the fourth quarter. West Oak Capital LLC now owns 1,975 shares of the company’s stock valued at $35,000 after acquiring an additional 1,955 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in Mattel during the 4th quarter valued at approximately $227,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MAT shares. JPMorgan Chase & Co. increased their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com downgraded Mattel from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America raised their target price on Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, October 1st. Finally, DA Davidson reaffirmed a “buy” rating and set a $27.00 price objective on shares of Mattel in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Mattel has an average rating of “Hold” and a consensus target price of $23.75.

Mattel Stock Up 0.4 %

Mattel stock opened at $17.94 on Friday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75. The firm’s fifty day moving average price is $18.54 and its two-hundred day moving average price is $18.60. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $20.59. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 1.01.

Mattel (NASDAQ:MAT) last announced its quarterly 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. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. On average, equities research analysts predict that Mattel, Inc. will post 1.46 earnings per share for the current fiscal year.

Mattel Company 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.