Mattel, Inc. (NASDAQ: MAT) shares closed lower on Monday February 13 on lighter trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Goldman Sachs Group, Inc. (The) initiated coverage on Mattel, Inc. (NASDAQ: MAT) stock, rating the company at Neutral. With a rating of Neutral on the shares, Mattel, Inc. has a 52-week high of $34.76. A number of other analysts have spoken on the company in recent days, and the company has secured a consensus one-year price target of $31.27, above the opening price of $25.90. Changes in price targets are not unheard of as analysts and brokerage firms will publish periodic updates after initiating coverage,.
Shares of Mattel, Inc. (NASDAQ: MAT) opened at $25.90 yesterday trading between $25.55 and $26.02, and last traded at $25.60, which is a dip of $0.14 compared to the previous closing price.
Mattel, Inc. (NASDAQ: MAT) now has a market cap of 8.77B.
Mattel, Inc. (NASDAQ: MAT) Average Daily Trading Volume
The stock’s average daily volume is 5,157,900 shares out of a total float 341,750,000 and some 717,630 shares crossed the trading desk yesterday, 48 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.
Mattel, Inc. (NASDAQ: MAT) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Mattel, Inc. (NASDAQ: MAT) have ranged from $25.17 – 34.760, and the stock now has a 50-day MA of $28.27 and 200-day MA of $30.80. Today’s last price is 26.37%% under the 52 week high of $34.76.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% for the past 3 years.
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