Mattel, Inc. (NASDAQ:MAT) Sees Large Increase in Short Interest

Mattel, Inc. (NASDAQ:MAT) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 6,850,000 shares, an increase of 11.6% from the October 15th total of 6,140,000 shares. Based on an average daily volume of 3,030,000 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Mattel

A number of institutional investors have recently made changes to their positions in the stock. ING Groep NV bought a new stake in Mattel during the 1st quarter valued at $28,000. Money Concepts Capital Corp purchased a new stake in shares of Mattel during the fourth quarter worth about $29,000. Caldwell Sutter Capital Inc. grew its stake in shares of Mattel by 238.0% in the second quarter. Caldwell Sutter Capital Inc. now owns 1,690 shares of the company’s stock worth $33,000 after purchasing an additional 1,190 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in Mattel by 193.5% during 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 period. Finally, Pinebridge Investments L.P. raised its position in Mattel by 30.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,425 shares of the company’s stock valued at $47,000 after purchasing an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Mattel Trading Up 3.0 %

NASDAQ MAT opened at $18.79 on Wednesday. The firm has a market capitalization of $6.64 billion, a PE ratio of 81.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The business’s 50-day moving average price is $20.52 and its two-hundred day moving average price is $20.06. The company has a current ratio of 2.33, a quick ratio of 1.73 and a debt-to-equity ratio of 1.14. Mattel has a 12 month low of $15.36 and a 12 month high of $22.64.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.21. Mattel had a return on equity of 19.70% and a net margin of 1.59%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, analysts expect that Mattel will post 1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAT. Citigroup initiated coverage on Mattel in a research note on Friday, October 20th. They set a “buy” rating and a $26.00 target price for the company. TheStreet upgraded shares of Mattel from a “c+” rating to a “b” rating in a report on Wednesday, July 26th. JPMorgan Chase & Co. increased their price target on Mattel from $24.00 to $25.00 in a research note on Thursday, July 27th. The Goldman Sachs Group boosted their price objective on Mattel from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Morgan Stanley dropped their target price on Mattel from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Mattel currently has a consensus rating of “Buy” and a consensus target price of $24.60.

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.