Short Interest in Mattel, Inc. (NASDAQ:MAT) Expands By 18.7%

Mattel, Inc. (NASDAQ:MAT) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 9,000,000 shares, a growth of 18.7% from the August 15th total of 7,580,000 shares. Based on an average trading volume of 3,380,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.6% of the company’s stock are sold short.

Mattel Trading Up 1.7 %

Shares of MAT traded up $0.36 during midday trading on Monday, hitting $21.43. The stock had a trading volume of 4,342,433 shares, compared to its average volume of 3,029,043. The business has a 50-day simple moving average of $21.43 and a two-hundred day simple moving average of $19.15. The firm has a market cap of $7.59 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 1.19. Mattel has a fifty-two week low of $15.36 and a fifty-two week high of $22.64.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 26th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.14. Mattel had a return on equity of 15.57% and a net margin of 4.48%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Mattel’s revenue was down 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Mattel will post 1.19 EPS for the current year.

Insider Activity at Mattel

In related news, SVP Yoon J. Hugh sold 38,677 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $21.40, for a total transaction of $827,687.80. Following the sale, the senior vice president now directly owns 39,964 shares in the company, valued at approximately $855,229.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Yoon J. Hugh sold 7,608 shares of Mattel stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.25, for a total transaction of $161,670.00. Following the sale, the senior vice president now directly owns 8,316 shares of the company’s stock, valued at $176,715. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Yoon J. Hugh sold 38,677 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $21.40, for a total value of $827,687.80. Following the completion of the transaction, the senior vice president now directly owns 39,964 shares of the company’s stock, valued at approximately $855,229.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,770 shares of company stock worth $3,592,788. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mattel

Institutional investors have recently modified their holdings of the stock. ING Groep NV acquired a new position in Mattel in the first quarter worth approximately $28,000. Money Concepts Capital Corp acquired a new position in shares of Mattel during the 4th quarter worth $29,000. Caldwell Sutter Capital Inc. raised its holdings in shares of Mattel by 238.0% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 1,690 shares of the company’s stock valued at $33,000 after purchasing an additional 1,190 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Mattel by 193.5% in the 1st quarter. Belpointe Asset Management LLC now owns 1,805 shares of the company’s stock valued at $33,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Mattel in the first quarter worth $1,855,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analysts Set New Price Targets

MAT has been the topic of a number of research reports. TheStreet raised shares of Mattel from a “c+” rating to a “b” rating in a report on Wednesday, July 26th. JPMorgan Chase & Co. lifted their target price on Mattel from $24.00 to $25.00 in a research note on Thursday, July 27th. The Goldman Sachs Group increased their price target on Mattel from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, StockNews.com initiated coverage on Mattel in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Mattel has an average rating of “Moderate Buy” and an average target price of $24.11.

Mattel Company Profile

Mattel, Inc, a children's and family entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as content, gaming, and lifestyle products for children under the Barbie, Monster High, American Girl, Disney Princess and Frozen, and Polly Pocket brands; dolls and books under the American Girl brand name; die-cast vehicles, tracks, playsets, and accessories for kids of all ages, and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS, and Mario Kart brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends, and Power wheels brands.