Mattel, Inc. (NASDAQ:MAT) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 25,914,516 shares, an increase of 26.4% from the June 15th total of 20,501,303 shares. Approximately 7.6% of the shares of the company are short sold. Based on an average daily volume of 7,913,779 shares, the days-to-cover ratio is currently 3.3 days.
MAT has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $22.00 price target (down previously from $25.00) on shares of Mattel in a report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price target on shares of Mattel in a report on Monday, June 19th. DA Davidson reissued a “buy” rating and issued a $30.00 price target on shares of Mattel in a report on Tuesday, May 23rd. Monness Crespi & Hardt cut their price target on shares of Mattel from $34.00 to $29.00 and set a “buy” rating for the company in a report on Friday, April 21st. Finally, Barclays PLC cut their price target on shares of Mattel from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Mattel presently has a consensus rating of “Hold” and a consensus target price of $28.03.
In other news, Director Dean A. Scarborough bought 47,000 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was purchased at an average cost of $21.95 per share, with a total value of $1,031,650.00. Following the acquisition, the director now directly owns 77,573 shares in the company, valued at $1,702,727.35. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Delta Asset Management LLC TN purchased a new position in shares of Mattel during the first quarter worth $102,000. Bollard Group LLC boosted its position in shares of Mattel by 1.5% in the first quarter. Bollard Group LLC now owns 4,200 shares of the company’s stock worth $108,000 after buying an additional 62 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in shares of Mattel during the first quarter worth $121,000. First Interstate Bank boosted its position in shares of Mattel by 237.1% in the first quarter. First Interstate Bank now owns 6,682 shares of the company’s stock worth $171,000 after buying an additional 4,700 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its position in shares of Mattel by 3.2% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 8,310 shares of the company’s stock worth $213,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 93.74% of the company’s stock.
Shares of Mattel (MAT) opened at 20.85 on Wednesday. The firm’s 50-day moving average is $21.36 and its 200 day moving average is $24.37. Mattel has a 52 week low of $19.41 and a 52 week high of $34.24. The firm has a market cap of $7.14 billion, a PE ratio of 26.16 and a beta of 0.86.
Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, April 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.15. Mattel had a net margin of 5.22% and a return on equity of 13.19%. The firm had revenue of $735.60 million during the quarter, compared to analysts’ expectations of $797.60 million. During the same quarter in the prior year, the business earned ($0.14) EPS. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. Equities research analysts forecast that Mattel will post $0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, August 21st. Mattel’s dividend payout ratio is currently 192.41%.
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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