Toy manufacturer Mattel, Inc. (NASDAQ: MAT) is in early-stage talks with equity firms, including Apollo Global Management Inc. (NYSE: APO) and L Catterton, for a potential sale, The Wall Street Journal reported, citing people familiar with the matter.
Headquartered in California, Mattel designs, manufactures and sells toys. Its most popular brands include Barbie, Hot Wheels, Fisher-Price, American Girl, UNO, Mega, Thomas & Friends, Polly Pocket, Masters of the Universe, Monster High and Enchantimals.
The company is present in 35 countries and territories, and its products are available in over 150 nations.
Mattel is slated to release its first-quarter results after the market closes on April 27.
Stock Rating
Based on seven Buys and three Holds, Mattel has a Moderate Buy consensus rating. MAT’s average price target of $32.15 implies 45.4% upside potential from current levels. Shares have gained 11.3% over the past three months.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into Mattel’s performance.
According to the tool, Mattel’s website traffic registered a 5.1% rise in global visits in March compared to February. Moreover, the footfall on the company’s website has grown 96.3% year-to-date against the same period last year.
Conclusion
Shares of MAT gained a mere 1.4% last year. However, following the news, the stock shot up almost 13% in the pre-market trading session on Wednesday. If the deal materializes, it would give the stock, which has gained a mere 1.4% over the last year, a much-needed boost.
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