Short Interest in Mattel, Inc. (MAT) Grows By 10.9%
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.
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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