We at Insider Monkey have gone over 867 13F filings that hedge funds and prominent investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of September 30th. In this article, we look at what those funds think of Mattel, Inc. (NASDAQ:MAT) based on that data.
Is Mattel, Inc. (NASDAQ:MAT) a superb investment right now? The best stock pickers were turning bullish. The number of bullish hedge fund positions advanced by 9 lately. Mattel, Inc. (NASDAQ:MAT) was in 34 hedge funds’ portfolios at the end of the third quarter of 2021. The all time high for this statistic is 37. Our calculations also showed that MAT isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings). There were 25 hedge funds in our database with MAT positions at the end of the second quarter.
John Rogers of Ariel Investments
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. With all of this in mind we’re going to check out the key hedge fund action regarding Mattel, Inc. (NASDAQ:MAT).
Do Hedge Funds Think MAT Is A Good Stock To Buy Now?
At third quarter’s end, a total of 34 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 36% from the second quarter of 2021. The graph below displays the number of hedge funds with bullish position in MAT over the last 25 quarters. So, let’s check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Southeastern Asset Management, managed by Mason Hawkins, holds the largest position in Mattel, Inc. (NASDAQ:MAT). Southeastern Asset Management has a $340.6 million position in the stock, comprising 6.5% of its 13F portfolio. Sitting at the No. 2 spot is John W. Rogers of Ariel Investments, with a $308.7 million position; 2.8% of its 13F portfolio is allocated to the company. Other peers that are bullish consist of Ken Griffin’s Citadel Investment Group, Dmitry Balyasny’s Balyasny Asset Management and Mitch Kuflik and Rob Sobel’s Brahman Capital. In terms of the portfolio weights assigned to each position Southeastern Asset Management allocated the biggest weight to Mattel, Inc. (NASDAQ:MAT), around 6.46% of its 13F portfolio. Brahman Capital is also relatively very bullish on the stock, earmarking 3.71 percent of its 13F equity portfolio to MAT.
With a general bullishness amongst the heavyweights, some big names have been driving this bullishness. Balyasny Asset Management, managed by Dmitry Balyasny, established the most valuable position in Mattel, Inc. (NASDAQ:MAT). Balyasny Asset Management had $66.3 million invested in the company at the end of the quarter. Mitch Kuflik and Rob Sobel’s Brahman Capital also initiated a $50.7 million position during the quarter. The following funds were also among the new MAT investors: Alexander Mitchell’s Scopus Asset Management, Alexander Mitchell’s Scopus Asset Management, and Anand Parekh’s Alyeska Investment Group.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Mattel, Inc. (NASDAQ:MAT) but similarly valued. These stocks are TaskUs Inc. (NASDAQ:TASK), Omnicell, Inc. (NASDAQ:OMCL), ChargePoint Holdings, Inc. (NYSE:CHPT), Bumble Inc. (NASDAQ:BMBL), Core & Main Inc. (NYSE:CNM), Grupo Aval Acciones y Valores S.A. (NYSE:AVAL), and Synovus Financial Corp. (NYSE:SNV). All of these stocks’ market caps resemble MAT’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TASK | 18 | 230676 | 18 |
| OMCL | 20 | 110091 | 2 |
| CHPT | 18 | 97964 | 1 |
| BMBL | 35 | 608650 | 12 |
| CNM | 12 | 276636 | 12 |
| AVAL | 8 | 12870 | 4 |
| SNV | 29 | 235408 | -1 |
| Average | 20 | 224614 | 6.9 |
View table here if you experience formatting issues.
As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $225 million. That figure was $1031 million in MAT’s case. Bumble Inc. (NASDAQ:BMBL) is the most popular stock in this table. On the other hand Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) is the least popular one with only 8 bullish hedge fund positions. Mattel, Inc. (NASDAQ:MAT) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for MAT is 85.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 28.6% in 2021 through November 30th and still beat the market by 5.6 percentage points. Hedge funds were also right about betting on MAT as the stock returned 14.3% since the end of Q3 (through 11/30) and outperformed the market. Hedge funds were rewarded for their relative bullishness.
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Disclosure: None. This article was originally published at Insider Monkey.
