Short Interest in Mattel, Inc. (MAT) Grows By 7.1%

Mattel, Inc. (NASDAQ:MAT) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 61,227,729 shares, an increase of 7.1% from the October 15th total of 57,181,952 shares. Currently, 17.9% of the company’s stock are sold short. Based on an average daily volume of 5,700,202 shares, the short-interest ratio is presently 10.7 days.

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Mattel by 49.2% in the 2nd quarter. Janus Henderson Group PLC now owns 127,062 shares of the company’s stock worth $2,087,000 after acquiring an additional 41,893 shares during the last quarter. Meadow Creek Investment Management LLC grew its position in Mattel by 95.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 74,324 shares of the company’s stock worth $1,220,000 after purchasing an additional 36,278 shares during the period. Schwab Charles Investment Management Inc. grew its position in Mattel by 12.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,112,939 shares of the company’s stock worth $34,695,000 after purchasing an additional 226,022 shares during the period. CIBC Asset Management Inc grew its position in Mattel by 10.0% during the 2nd quarter. CIBC Asset Management Inc now owns 44,600 shares of the company’s stock worth $732,000 after purchasing an additional 4,063 shares during the period. Finally, Andra AP fonden grew its position in Mattel by 13.3% during the 2nd quarter. Andra AP fonden now owns 281,400 shares of the company’s stock worth $4,621,000 after purchasing an additional 33,100 shares during the period.

Shares of MAT stock opened at $13.55 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of -12.55 and a beta of 1.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 4.28. Mattel has a 1 year low of $12.21 and a 1 year high of $19.21.

Mattel (NASDAQ:MAT) last issued its earnings results on Thursday, October 25th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Mattel had a negative return on equity of 65.25% and a negative net margin of 17.99%. Analysts forecast that Mattel will post -1.02 EPS for the current fiscal year.

Several analysts have recently commented on MAT shares. BidaskClub lowered Mattel from a “buy” rating to a “hold” rating in a report on Friday, July 13th. MKM Partners decreased their price objective on Mattel to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. ValuEngine lowered Mattel from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. DA Davidson upgraded Mattel from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $14.00 in a report on Friday, July 27th. Finally, Zacks Investment Research lowered Mattel from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.22.

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About Mattel

Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.

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