We don't plan any change to our respective $26 and $98 fair value estimates for Mattel and Hasbro, and we caution investors that such speculation has fizzled in the past, and a similar fate could occur this go-round. Janus Henderson Group PLC lifted its position in shares of Mattel by 19,570.6% during the 2nd quarter. Visionary Asset Management Inc. now owns 76,695 shares of the company's stock valued at $2,400,000 after buying an additional 3,650 shares during the last quarter.
Shares of Mattel jumped about 24 percent in after-hours trading.
The report comes close on the heels of the bankruptcy of Toys'R'Us - a major outlet for toy sales - that piled more pressure on an industry already struggling with online competition and lackluster demand for traditional toys. Eaton Vance Management now owns 2,682,680 shares of the company's stock valued at $57,758,000 after acquiring an additional 2,289,165 shares during the period. Mattel, Inc. has a one year low of C$12.71 and a one year high of C$32.48. The new company could become the world's largest toy company. The company revealed in October it suffered a 14% drop in its third-quarter sales. Mattel's shares have slumped 47 percent this year, valuing the company at $4.8 billion and making it more vulnerable as a takeover target. Finally, DA Davidson downgraded shares of Mattel from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $22.00 to $18.00 in a report on Thursday, August 3rd. UBS AG reiterated a "buy" rating and issued a $23.00 price target on shares of Mattel in a research note on Saturday, September 16th.
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The user further added this does not happen all the time, but he has noticed this issue after the purchasing the device. This is an issue beyond just phone calls, though, as things such as voice recognition use the same microphones.
A combination of the two companies would bring an impressive portfolio of brands under one roof. The company presently has a consensus rating of "Hold" and a consensus price target of C$21.46. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of USA and global copyright law. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and worldwide trademark & copyright law.
Mattel owns Barbie, American Girl Dolls and Hot Wheels Cars.