Mattel, Inc. (MAT) Short Interest Up 29.2% in August
Mattel, Inc. (NASDAQ:MAT) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 38,495,029 shares, a growth of 29.2% from the July 31st total of 29,794,788 shares. Approximately 11.3% of the shares of the company are short sold. Based on an average trading volume of 7,485,764 shares, the days-to-cover ratio is currently 5.1 days.
Shares of Mattel (NASDAQ MAT) opened at 16.47 on Tuesday. Mattel has a 12 month low of $15.93 and a 12 month high of $33.98. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 23.63 and a beta of 0.84. The stock’s 50 day moving average price is $19.18 and its 200-day moving average price is $22.48.
Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.05. The company had revenue of $974.50 million during the quarter, compared to analyst estimates of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, equities research analysts predict that Mattel will post $0.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 dividend on an annualized basis and a yield of 3.64%. Mattel’s payout ratio is 86.96%.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of Mattel stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MAT. IHT Wealth Management LLC increased its stake in Mattel by 5,624.1% in the second quarter. IHT Wealth Management LLC now owns 1,660 shares of the company’s stock worth $302,000 after buying an additional 1,631 shares during the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of Mattel during the first quarter worth approximately $121,000. Highlander Capital Management LLC purchased a new stake in shares of Mattel during the second quarter worth approximately $105,000. Penserra Capital Management LLC boosted its stake in shares of Mattel by 26.6% in the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock worth $131,000 after buying an additional 1,287 shares during the period. Finally, Delta Asset Management LLC TN boosted its stake in shares of Mattel by 54.7% in the second quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock worth $133,000 after buying an additional 2,175 shares during the period. Institutional investors and hedge funds own 93.53% of the company’s stock.
A number of research analysts have issued reports on MAT shares. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of Mattel in a research report on Monday, June 19th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Mattel in a report on Friday, June 16th. Stifel Nicolaus restated a “hold” rating on shares of Mattel in a report on Thursday, August 3rd. DA Davidson restated a “buy” rating and issued a $30.00 price objective on shares of Mattel in a report on Tuesday, May 23rd. Finally, Barclays PLC cut their price objective on Mattel from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.65.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International, and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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