Shake-Up Alert: 40 Companies Facing Activist Pressure

Page 11 of 31

21. Barrington Capital at Mattel Inc (NASDAQ:MAT)

Stock Return: 25.59%

S&P 500 Return: 5.39%

Investment date: 10/11/2023

Number of hedge funds holding stakes: 35

Mattel Inc (NASDAQ:MAT) is an entertainment company that designs and sells toys and consumer products. It offers dolls and accessories as well as books and gaming items. While the stock is up by about 2.7% in 2024, it’s been under immense pressure, a move that has prompted activist investor Barington Capital into action.

The activist hedge fund believes it is high time the toy company considered selling its America Girl and Fisher-Price brands, citing underperformance in the units. The hedge fund also thinks Mattel Inc (NASDAQ:MAT) should pause its continued push for mergers and acquisitions and consider a $2 billion share repurchase operation to return value to shareholders.

As of the end of Q1, 2024, 35 out of 920 hedge funds tracked by Insider Monkey held stakes in Mattel Inc (NASDAQ:MAT).

Page 11 of 31