Mattel, Inc. (NASDAQ:MAT) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 47,859,480 shares, a growth of 10.9% from the August 31st total of 43,159,890 shares. Based on an average trading volume of 6,803,108 shares, the days-to-cover ratio is presently 7.0 days. Currently, 14.0% of the company’s shares are short sold.

In related news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the acquisition, the chief executive officer now directly owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Sentry Investment Management LLC increased its position in shares of Mattel by 0.3% during the second quarter. Sentry Investment Management LLC now owns 25,759 shares of the company’s stock worth $555,000 after purchasing an additional 67 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of Mattel by 0.8% during the first quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock worth $215,000 after purchasing an additional 69 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Mattel by 0.6% during the first quarter. Advantus Capital Management Inc now owns 34,314 shares of the company’s stock worth $879,000 after purchasing an additional 191 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Mattel by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock worth $456,000 after purchasing an additional 200 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Mattel by 1.3% during the second quarter. Private Advisor Group LLC now owns 16,306 shares of the company’s stock worth $341,000 after purchasing an additional 204 shares in the last quarter. 93.81% of the stock is currently owned by institutional investors and hedge funds.

Mattel (NASDAQ MAT) opened at 15.48 on Friday. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 22.21 and a beta of 0.87. Mattel has a 12 month low of $14.39 and a 12 month high of $33.23. The stock has a 50 day moving average price of $16.82 and a 200 day moving average price of $21.28.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $974.50 million for the quarter, compared to analyst estimates of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. Analysts anticipate that Mattel will post $0.78 earnings per share for the current fiscal year.

Several research firms have weighed in on MAT. BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a report on Wednesday, June 7th. Jefferies Group LLC began coverage on Mattel in a report on Thursday, June 8th. They issued a “hold” rating and a $22.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $30.00 price objective on shares of Mattel in a report on Monday, June 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 price objective on shares of Mattel in a report on Friday, June 9th. Finally, Monness Crespi & Hardt dropped their price objective on Mattel from $29.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, June 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $24.12.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/01/short-interest-in-mattel-inc-mat-grows-by-10-9.html.

About Mattel

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.

Receive News & Stock Ratings for Mattel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mattel Inc. and related stocks with our FREE daily email newsletter.