Friday, February 23, 2024
Stock Market

MAT Stock: Activist Investor Barrington Capital Wants to Shake Things Up at Mattel

Source: Ken Wolter / Shutterstock

Mattel (NASDAQ:MAT) stock is a hot topic on Friday after activist investor Barrington Capital expressed interest in making changes at the family entertainment company.

Barrington Capital takes issue with the fact that MAT stock is down 13.2% over the last two years. The activist investor notes that this has the company’s shares lagging 22.3%.

Barrington Capital has presented Mattel Executive Chairman and CEO Ynon Kreiz with a few measures to overcome this problem and create shareholder value. That includes seeking strategic alternatives for the Fisher-Price and American Girl brands.

More Changes to Save MAT Stock

Other recommendations from Barrington Capital include ceasing excessive stock-based compensation. It also wants the company to enact a $2 billion share repurchase program with an accelerated share repurchase program.

Finally, Barrington Capital is seeking management changes. It wants Mattel to split the position of Chairman and CEO from each other. Instead, it wants the Leader Director of the Board of Directors to become the Chairman. The investor believes this would lead to better management of the toy company.

Mattel says that it is aware of the letter from Barrington Capital and is in the process of reviewing the activist investor’s suggestions. The company also says that it looks forward to engaging with it just like it does with all investors.

MAT stock is up 3.2% as of Friday morning.

Investors who are seeking out all of the latest stock market stories are in the right place!

We have the biggest stock market news that traders need to know about on Friday! A few examples of this include what’s happening with shares of Intel (NASDAQ:INTC) stock, Tesla (NASDAQ:TSLA) stock and Fisker (NASDAQ:FSR) stock today. You can find all of that news at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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