Short Interest in Mattel, Inc. (NASDAQ:MAT) Drops By 6.2%

Mattel, Inc. (NASDAQ:MAT – Get Rating) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 12,460,000 shares, a decline of 6.2% from the February 13th total of 13,280,000 shares. Based on an average daily trading volume, of 3,250,000 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On Mattel

A number of large investors have recently made changes to their positions in MAT. Kinneret Advisory LLC boosted its stake in Mattel by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 23,608 shares of the company’s stock worth $524,000 after purchasing an additional 528 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Mattel by 3.9% during the second quarter. Synovus Financial Corp now owns 14,929 shares of the company’s stock worth $330,000 after buying an additional 554 shares during the period. Raymond James & Associates grew its holdings in shares of Mattel by 5.3% during the first quarter. Raymond James & Associates now owns 12,092 shares of the company’s stock valued at $269,000 after buying an additional 604 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Mattel by 74.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,555 shares of the company’s stock valued at $35,000 after acquiring an additional 665 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its stake in Mattel by 5.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,418 shares of the company’s stock worth $320,000 after acquiring an additional 788 shares during the last quarter. 96.93% of the stock is owned by institutional investors and hedge funds.

Mattel Trading Down 1.7 %

Shares of NASDAQ MAT opened at $16.00 on Thursday. Mattel has a 1-year low of $15.71 and a 1-year high of $26.99. The business has a fifty day moving average price of $19.10 and a 200 day moving average price of $19.05. The stock has a market capitalization of $5.69 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 4.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.30 and a quick ratio of 1.54.

Mattel (NASDAQ:MAT – Get Rating) last announced its earnings results on Wednesday, February 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Mattel had a return on equity of 24.47% and a net margin of 7.25%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. Equities research analysts expect that Mattel will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MAT has been the topic of several research analyst reports. BMO Capital Markets cut their price objective on Mattel from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, February 10th. Stifel Nicolaus lowered their price target on Mattel from $29.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 3rd. Bank of America reduced their price objective on Mattel from $26.00 to $21.00 in a report on Friday, February 10th. TheStreet cut Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. Finally, UBS Group dropped their price target on Mattel from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

About Mattel

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Mattel, Inc engages in the ownership of children’s and family entertainment franchises. It operates through the following segments: North America, International, and American Girl. The North America and International segments focus on marketing and selling toys and consumer products. The American Girl segment includes marketing, retailing, and publishing dedicated to its mission to help girls grow up with confidence and character.