Hedge Funds Are Dumping Mattel, Inc. (MAT)

Because Mattel, Inc. (NASDAQ:MAT) has witnessed bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there is a sect of hedge funds that decided to sell off their full holdings in the third quarter. It’s worth mentioning that Joel Greenblatt’s Gotham Asset Management said goodbye to the biggest investment of all the hedgies tracked by Insider Monkey, valued at about $14.9 million in call options. Ken Griffin’s fund, Citadel Investment Group, also sold off its call options, worth about $6.8 million. These moves are important to note, as total hedge fund interest fell by 5 funds in the third quarter.

Let’s now review hedge fund activity in other stocks similar to Mattel, Inc. (NASDAQ:MAT). We will take a look at NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW), Pearson PLC (ADR) (NYSE:PSO), and Citizens Financial Group Inc (NYSE:CFG). All of these stocks’ market caps are similar to MAT’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $498 million. That figure was $534 million in MAT’s case. Citizens Financial Group Inc (NYSE:CFG) is the most popular stock in this table. On the other hand Pearson PLC (ADR) (NYSE:PSO) is the least popular one with only 6 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. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CFG might be a better candidate to consider a long position.

Disclosure: none.