HS Management Partners Fully Exits Mattel Position in Q1

HS Management Partners, LLC has completely exited its investment in Mattel (MAT), according to a recent SEC filing dated April 27, 2026. The firm liquidated its entire holding of 683,200 shares during the first quarter of the year. The estimated value of the transaction was $12.45 million, based on quarterly average pricing. Prior to the sale, the position represented 2.9% of the firm's total 13F assets under management (AUM). The net position value declined by $13.55 million over the reporting period, reflecting both the divestment and stock price fluctuations. The exit comes amid a challenging period for the toy manufacturer. Mattel shares were trading at $14.54 as of April 24, 2026, marking a 7.8% decline over the past year. The stock has significantly underperformed the S&P 500, trailing the benchmark by 38.4 percentage points. Despite the stock's decline, Mattel has shown some operational improvement. The company's operating margin has risen to approximately 11.3%, compared to 8.6% in 2023. However, headwinds including inflationary pressures and softening demand for the Barbie product line have weighed on the valuation. The stock currently trades at a price-to-sales (P/S) ratio of 0.9x, the lowest level seen in over five years. While institutional sellers like HS Management Partners are exiting, this valuation may attract value-oriented investors looking for an entry point.