Mattel, Inc. (MAT) Sees Large Increase in Short Interest
Mattel, Inc. (NASDAQ:MAT) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 76,796,835 shares, a growth of 6.9% from the October 13th total of 71,863,247 shares. Based on an average trading volume of 20,665,936 shares, the days-to-cover ratio is presently 3.7 days. Approximately 22.4% of the shares of the company are sold short.
Hedge funds have recently made changes to their positions in the company. Intact Investment Management Inc. increased its position in shares of Mattel by 14.0% in the second quarter. Intact Investment Management Inc. now owns 93,100 shares of the company’s stock valued at $2,004,000 after buying an additional 11,400 shares in the last quarter. Thrivent Financial For Lutherans increased its position in Mattel by 3.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 13,050 shares of the company’s stock worth $281,000 after purchasing an additional 410 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in Mattel by 43.8% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 147,083 shares of the company’s stock worth $3,167,000 after purchasing an additional 44,802 shares in the last quarter. State of Wisconsin Investment Board increased its position in Mattel by 31.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 298,972 shares of the company’s stock worth $6,437,000 after purchasing an additional 70,840 shares in the last quarter. Finally, Greenwood Capital Associates LLC purchased a new stake in Mattel during the 2nd quarter worth about $287,000. Institutional investors and hedge funds own 95.89% of the company’s stock.
Several equities research analysts recently weighed in on MAT shares. ValuEngine raised Mattel from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded Mattel from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Mattel in a report on Thursday, August 3rd. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $17.00 price target (down from $22.00) on shares of Mattel in a report on Tuesday, October 10th. Finally, Jefferies Group LLC set a $13.00 price target on Mattel and gave the stock a “hold” rating in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.46.
Mattel (MAT) opened at $17.64 on Tuesday. Mattel has a 52-week low of $12.71 and a 52-week high of $32.48. The firm has a market capitalization of $5,025.33, a price-to-earnings ratio of 97.47, a PEG ratio of 37.59 and a beta of 0.88. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.89.
Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.49). Mattel had a negative net margin of 11.73% and a positive return on equity of 2.51%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. sell-side analysts forecast that Mattel will post 0.04 EPS for the current year.
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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