Shares of Hasbro (NASDAQ: HAS) were down 8.8% as of 12:52 p.m. ET on Monday after Bank of America analyst Jason Haas downgraded the stock to underperform. 

The downgrade comes after the analyst's research indicates that Hasbro is over-distributing Magic: The Gathering playing cards, which could dilute the brand. Lower demand across the business has pressured Hasbro's profitability this year, which has weighed on the stock -- it's down 43% year to date.  

Magic is estimated to make up over a third of the company's adjusted operating profit, so if sales were to fall, it would be problematic for Hasbro's business. The analyst cited feedback from players and store owners who said Hasbro is over-distributing cards to drive up sales, but this could backfire in the long run if players grow tired of chasing down more and more cards.  

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Source Fool.com