Toymaker Mattel, Inc. (NASDAQ: MAT) is in preliminary talks with investment firms, including Apollo Global Management Inc. (NYSE: APO) and L Catterton, for a possible sale, The Wall Street Journal reported, citing people familiar with the matter.

Based in California, Mattel designs, manufactures and sells toys. Its most popular brands are 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 more than 150 countries.

Mattel is expected to release its first quarter results after the market closes on April 27.

Stock Valuation

Based on seven buys and three takes, Mattel has a moderate buy consensus rating. MAT’s average price target of $32.15 implies a potential upside of 45.4% from current levels. The 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 largest website usage monitoring service, provides insight into Mattel’s performance.

According to the tool, traffic to Mattel’s website saw a 5.1% increase in global visits in March compared to February. In addition, traffic to the company’s website has increased by 96.3% year-to-date compared to the same period last year.

Conclusion

MAT shares only gained 1.4% last year. However, following the news, the stock jumped nearly 13% in Wednesday’s pre-market session. Should the deal materialize, it would give the stock, which has gained just 1.4% in the past year, a much-needed boost.

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