Sat Sep 28 18:54:03 UTC 2024: ## D.E. Shaw & Co. Reduces Mattel Stake While Other Funds Show Interest

**New York, NY – September 28, 2024** – D.E. Shaw & Co. Inc., a prominent hedge fund, has trimmed its stake in Mattel, Inc. (NASDAQ:MAT) by 4.8% in the second quarter, according to its recent SEC filing. This move follows a trend of mixed activity surrounding the toy giant, with other funds increasing their holdings and some initiating new positions.

D.E. Shaw’s reduced stake, valued at $35.26 million, indicates a potential shift in sentiment towards Mattel. However, other investors remain optimistic. Price T Rowe Associates Inc. MD boosted its stake in Mattel by 1.6% during the first quarter, and several new investors, including HSBC Holdings PLC, Cubist Systematic Strategies LLC, and The Manufacturers Life Insurance Company, entered the market. This suggests that the company’s recent performance and future prospects have garnered diverse opinions among investors.

Mattel’s recent earnings report, released on July 23rd, showed a beat on earnings per share but a slight decline in revenue compared to the previous year. The company reported $0.19 EPS, exceeding analysts’ expectations of $0.17, while revenue came in at $1.08 billion, falling short of the projected $1.10 billion.

Analysts remain mostly optimistic about Mattel’s trajectory. StockNews.com upgraded its rating to “buy” from “hold”, while DA Davidson re-affirmed its “buy” rating and set a $27.00 price objective. Overall, the average analyst rating for Mattel stands at “Moderate Buy” with an average target price of $22.63.

While D.E. Shaw’s move might signal a slight shift in sentiment, the overall picture remains positive for Mattel. The company’s diverse range of popular brands, strong financial performance, and positive analyst sentiment continue to make it an attractive investment opportunity for many investors.

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