Mattel, Inc. (MAT) Sees Significant Growth in Short Interest

Mattel, Inc. (NASDAQ:MAT) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 60,488,844 shares, a growth of 9.7% from the January 12th total of 55,145,315 shares. Based on an average daily volume of 7,164,597 shares, the short-interest ratio is presently 8.4 days. Currently, 17.7% of the shares of the company are short sold.

Several research firms recently weighed in on MAT. ValuEngine downgraded Mattel from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. BidaskClub upgraded Mattel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 15th. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 target price (down from $34.00) on shares of Mattel in a research report on Wednesday, December 13th. TheStreet cut Mattel from a “c” rating to a “d” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research raised Mattel from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.00.

Mattel (NASDAQ:MAT) traded up $1.27 during trading hours on Friday, reaching $17.27. The company’s stock had a trading volume of 9,824,970 shares, compared to its average volume of 6,957,313. The company has a current ratio of 1.92, a quick ratio of 1.55 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $5,740.00, a PE ratio of -5.64, a PEG ratio of 14.19 and a beta of 1.00. Mattel has a twelve month low of $12.71 and a twelve month high of $26.30.

Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, February 1st. The company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.93). Mattel had a negative net margin of 21.59% and a negative return on equity of 21.37%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Mattel’s revenue was down 12.2% compared to the same quarter last year. research analysts forecast that Mattel will post 0.13 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Wealthfront Inc. increased its holdings in shares of Mattel by 158.6% in the fourth quarter. Wealthfront Inc. now owns 49,612 shares of the company’s stock worth $763,000 after purchasing an additional 30,425 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Mattel in the fourth quarter worth about $187,000. UBS Asset Management Americas Inc. increased its holdings in shares of Mattel by 1.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,123,414 shares of the company’s stock worth $17,278,000 after purchasing an additional 19,134 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Mattel by 1.7% in the fourth quarter. Rhumbline Advisers now owns 640,847 shares of the company’s stock worth $9,856,000 after purchasing an additional 10,537 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its holdings in shares of Mattel by 78.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 17,803 shares of the company’s stock worth $274,000 after purchasing an additional 7,803 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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About Mattel

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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