Mattel, Inc. (MAT) Sees Significant Growth in Short Interest
Mattel, Inc. (NASDAQ:MAT) was the target of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 63,072,066 shares, a growth of 31.8% from the September 15th total of 47,859,480 shares. Approximately 18.5% of the shares of the stock are sold short. Based on an average daily volume of 10,510,004 shares, the days-to-cover ratio is presently 6.0 days.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MAT. Sentry Investment Management LLC boosted its position in shares of Mattel by 0.3% in the 2nd quarter. Sentry Investment Management LLC now owns 25,759 shares of the company’s stock valued at $555,000 after purchasing an additional 67 shares during the period. Cleararc Capital Inc. boosted its position in shares of Mattel by 0.8% in the 1st quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock valued at $215,000 after purchasing an additional 69 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Mattel by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock valued at $456,000 after purchasing an additional 200 shares during the period. Private Advisor Group LLC boosted its position in shares of Mattel by 1.3% in the 2nd quarter. Private Advisor Group LLC now owns 16,306 shares of the company’s stock valued at $341,000 after purchasing an additional 204 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its position in shares of Mattel by 1.4% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 18,951 shares of the company’s stock valued at $408,000 after purchasing an additional 253 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.
Shares of Mattel (NASDAQ MAT) opened at 15.75 on Tuesday. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 22.60 and a beta of 0.86. The firm has a 50-day moving average price of $15.56 and a 200-day moving average price of $19.98. Mattel has a 1-year low of $14.35 and a 1-year high of $33.23.
Mattel (NASDAQ:MAT) last released its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 negative return on equity of 10.50% and a negative net margin of 5.75%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. Equities analysts forecast that Mattel will post $0.76 EPS for the current year.
MAT has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of Mattel in a report on Monday, June 19th. BidaskClub lowered Mattel from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. UBS AG restated a “buy” rating and set a $26.00 price target (down previously from $29.00) on shares of Mattel in a report on Wednesday, June 21st. Stifel Nicolaus decreased their price target on Mattel from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, June 21st. Finally, MKM Partners decreased their price target on Mattel from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.42.
Mattel Company Profile
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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