Mattel, Inc. (MAT) Sees Significant Increase in Short Interest
Mattel, Inc. (NASDAQ:MAT) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 43,159,890 shares, a growth of 12.1% from the August 15th total of 38,495,029 shares. Approximately 12.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,033,142 shares, the short-interest ratio is currently 8.6 days.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis acquired 12,660 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $19.61 per share, with a total value of $248,262.60. Following the completion of the purchase, the chief executive officer now owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Sentry Investment Management LLC grew 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 valued at $555,000 after purchasing an additional 67 shares in the last quarter. Cleararc Capital Inc. grew 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 valued at $215,000 after purchasing an additional 69 shares in the last quarter. Ffcm LLC grew its position in shares of Mattel by 0.9% during the first quarter. Ffcm LLC now owns 13,168 shares of the company’s stock valued at $338,000 after purchasing an additional 116 shares in the last quarter. Advantus Capital Management Inc grew 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 valued at $879,000 after purchasing an additional 191 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew 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 valued at $456,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Shares of Mattel (MAT) opened at 16.10 on Thursday. The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $21.64. Mattel has a 1-year low of $15.17 and a 1-year high of $33.23. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 23.10 and a beta of 0.87.
Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). The firm had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. Equities research analysts forecast that Mattel will post $0.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Monday, August 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.73%. Mattel’s payout ratio is 86.96%.
MAT has been the subject of several research analyst reports. UBS AG reissued a “buy” rating and set a $26.00 price objective (down previously from $29.00) on shares of Mattel in a research note on Wednesday, June 21st. BMO Capital Markets reissued a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. DA Davidson reissued a “buy” rating and set a $30.00 price objective on shares of Mattel in a research note on Tuesday, May 23rd. 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 research note on Thursday, June 15th. Finally, MKM Partners dropped their price objective on Mattel from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 3rd. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.27.
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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