|Bid||10.73 x 3200|
|Ask||11.29 x 4000|
|Day's Range||10.93 - 11.32|
|52 Week Range||9.09 - 17.73|
|Beta (3Y Monthly)||2.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.96|
Mattel rejected a merger from MGA Entertainment for a second time and the company's CEO called Mattel insolvent. Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi, and Dan Roberts speak with MGA CEO Isaac Larian.
MGA Entertainment Inc.’s Chief Executive Isaac Larian slammed Mattel Inc. in a statement that officially calls off the second merger talks between the two toy companies. MGA Entertainment’s portfolio includes Little Tikes and LOL Surprise. “With close to $4 billion in debt at an average interest rate of 6.58% (as of March 2019), a staggering 42% in operating expenses, and a major legal liability for having sold a faulty Fisher Price Rock ‘n Play Sleeper for years even as multiple baby fatalities occurred, there is simply too much mess to clean up at Mattel,” the statement said.
Isaac Larian, pugnacious founder of Bratz fashion dolls maker MGA Entertainment, knows all about toys. Despite repeated efforts, he has yet to make rival Mattel his own plaything. After Mattel dismissed his plan to sack its directors, merge the two Los Angeles companies and put himself in charge, the Iran-born billionaire walked away this week.
The Insider Monkey team has completed processing the quarterly 13F filings for the March quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
Today Hot Wheels and Nintendo announce the global release of Hot Wheels Mario Kart die-cast vehicles and track sets. With its introduction, the beloved Nintendo characters and iconic karts from the hugely popular Mario Kart franchise have been transformed into authentic, high-performance die-cast toy vehicles.
EL SEGUNDO, Calif.-- -- The Los Angeles Lakers®, Los Angeles Dodgers®, Los Angeles Football Club and Volleyball World Champion John “Sinjin” Smith Will Join UCLA Mattel Children’s Hospital™ for Epic “Play Date” at Mattel Headquarters Sky Brown, the Youngest Pro-Skateboarder, and Summer Games Hopeful, Will be Showcasing Her Skills and Doing a Meet and Greet with the Visiting Children Program Will Reach ...
MGA Entertainment founder and Bratz doll creator Isaac Larian rips Mattel's management team to shreds in an interview with Yahoo Finance.
dropped more than 5% on Wednesday after reports surfaced that California toy mogul Isaac Larian no longer has interest in merging his company with the struggling toy maker. Larian's comments came a week after he disclosed that Mattel had again rejected a second merger offer with Larian's privately held MGA Entertainment. "At this time, it is in the best interest of MGAE not to continue forward with a Mattel offer," Larian said in a statement to The Los Angeles Times.
California toy mogul Larian said, “at this time, it is in the best interest of MGAE not to continue forward with a Mattel offer."
Mattel Inc (NASDAQ: MAT ) shares are down Wednesday morning following a report MGA Entertainment CEO Isaac Larian has abandoned interest in a merger deal. "With close to $4 billion in debt at an average ...
Mattel Inc. shares fell 2.5% in Wednesday premarket trading after MGA Entertainment Inc.'s Chief Executive Isaac Larian announced he was abandoning pursuit of a merger deal. "With close to $4 billion in debt at an average interest rate of 6.58% (as of March 2019), a staggering 42% in operating expenses, and a major legal liability for having sold a faulty Fisher Price Rock 'n Play Sleeper for years even as multiple baby fatalities occurred, there is simply too much mess to clean up at Mattel," the statement said. "It is my opinion that Mattel cannot be salvaged at this point and most certainly not under the current, hostile board and management." In April, Mattel recalled the Fisher Price Rock 'n Play Sleeper, which had been tied to infant deaths. Analysts estimated that the recall could cost Mattel $40 million to $60 million. Fisher Price stood by the safety of the product at that time. Last week there were reports that Mattel rejected the merger offer, which sent shares higher. Mattel shares have sunk 16% over the past three months, but have gained 20.7% for the year to date. The S&P 500 index is up 16.4% for 2019 so far.
EL SEGUNDO, Calif.-- -- Hot Wheels id integrates #1 selling toy in the world* into digital racing with new Mixed Play experience, a unique experience that keeps the physical toy at the core of gameplay and adds digital enhancement Hot Wheels™ id Vehicle Assortment, Race Portal, Smart Track® Kit and companion app available now Mattel, Inc. today announced the launch of Hot Wheels id , the evolution ...
Hot Wheels id is a new toy experience from Mattel (NASDAQ:MAT) for its classic car brand.Source: MattelThe idea behind Hot Wheels id is that it allows kids to play with the physical toys while still taking part in digital vents. This includes racing their cars on physical tracks and uploading data to an app.The Hot Wheels id system also allows kids to race each other with their cars and record their wins and losses. The system is also able to track the top speeds on the toy cars and how many laps they complete.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMattel is no doubt hoping that this new Hot Wheels id system will appeal to kids by combining real life toys with an online experience. However, there's the cost of entry to consider.Parents that want to buy everything their kid needs for the Hot Wheels id will be spending a pretty penny. This includes each of the cars costing $6.99. The Hot Wheels id will then set parents back by $39.99. Finally, the Smart Track Kit comes in at a whopping $179.99. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 That expensive price may be why parents won't find Hot Wheels id toys at normal retail stores. Instead, it is only available exclusively at select Apple (NASDAQ:AAPL) stores, Apple.com and through the App Store. Maybe Mattel is hoping that Apple customers will be willing to spend as lavishly on their toys as they do their other electronic devices. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Hot Wheels id: Mattel Debuts Digital Tie-In for Its Iconic Toy Cars appeared first on InvestorPlace.
A life-sized Hot Wheels car and an outsized installation celebrating Barbie’s 60th anniversary take up valuable real estate in a warehouse labyrinth of cubicles and conference rooms. Inside one of these conference rooms, a calendar on the wall counts down the number of days until the company will unveil to the public what lies under a shroud on the conference table and a new direction for the legacy toy giant: 27 days. Well, 27 days have passed, and Mattel (NASDAQ: MAT) has lifted the veil on Hot Wheels ID, the company’s latest and highest-profile example of its new strategy of combining physical and digital in what it’s calling “mixed play.” With Generation Alpha (children born after 2010) starting the same year that the iPad was introduced, Hot Wheels’ target demographic is spending more and more time on digital devices, and toy companies have traditionally dealt with the trend by ignoring it or going all in on digital play experiences, Ron Friedman, Mattel’s director of product management and global marketing, told me in that conference room with the 27-day countdown on the wall.
Mattel (NYSE:MAT) has turned down another takeover bid from MGA Entertainment. Mattel stock surged higher on the news. MGA, who owns brands such as Bratz fashion dolls, Num Noms, and Little Tikes, has now failed twice to take over Mattel.Source: Shutterstock While this rejection of MGA has offered relief to MAT stock in the short term, turning down the deal leaves Mattel in the same beleaguered state it's been struggling in for decades.Mattel owns some of the most venerable brands in the toy business. This includes American Girl, Barbie, Fisher-Price, and Hot Wheels. Recently, it had also signed a licensing agreement with Sanrio (OTCMKTS:SNROF) to create toys, dolls, games, and other items based on the Hello Kitty brand. The toymaker has also renewed a separate licensing agreement with Warner Bros. to produce similar items for DC.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Conflicting "Best Interests"MGA CEO Isaac Larian made an overture to Mattel's CEO Ynon Kreiz in a letter dated May 21st. Mattel's chief legal officer, Bob Normile responded on June 7th, saying Mattel's board decided that the proposal was "not in the best interests of Mattel and its shareholders." * 5 Tech Stocks That Are Far Too Risky Right Now The deal would have forced out Mattel's entire board, possibly indicating the "best interests" the company protected. However, since MGA is a private company, analysts have only so much ability to evaluate the merits of the deal.However, we do know that Mattel stock has struggled over the past few decades. At its current price, it trades at levels it first saw in 1992! The rise of electronic games has reduced the demand for the physical toys and the board games that drove its business for decades. Its most direct peer, Hasbro (NYSE:HAS), has faced similar struggles. Competition Continues to IncreaseMoreover, the emergence of e-commerce giants such as Amazon (NASDAQ:AMZN) has devalued the advantage in shelf space these companies once held. This problem became worse with the closure of Toys "R" Us last year.I do not think the demand for physical toys will go away. Also, a backlash against electronic everything could even spark a revival in physical toys. However, individual creators could utilize a site such as Etsy (NASDAQ:ETSY) to compete against corporate toymakers. So it is not clear that such an occurrence would help Mattel stock. Financials for Mattel Stock Remain PoorMAT's financials continue to reflect this struggle. In its most recent earnings report, the company beat estimates but still lost 44 cents per share in the prior quarter. It also exceeded forecasts on revenue. Still, the $689.2 million in brought in during the quarter was a 2.9% reduction year-over-year. Thanks to cost-cutting, analysts forecast a profit next year. However, that will leave its forward P/E ratio at over 130. Moreover, costs can only fall so much, so staying consistently profitable could prove difficult.For now, Mattel's board rebuffs the takeover attempt, and Mattel stock benefits from a relief rally. But investors need to ask what kind of future the company has in the current business environment? With falling demand and increasing sources of competition, this company will do well just to keep itself in business. Such conditions do not leave much of a path forward for holders of MAT stock. Final Thoughts on Mattel StockTurning down the merger means Mattel will continue to face more competition amid falling revenues. In fairness, this reflects more on the state of the industry than on Mattel itself. Moreover, with MGA's financials not publicly available, assessing whether the merger would have profited holders of Mattel stock remains difficult. * 7 Stocks to Buy for the Coming Recession However, we know that Mattel stock faces an uncertain path forward. Having struggled for more than a quarter century, management offering more of the same leaves investors with no reason to buy MAT. Until this industry consolidates or produces the toys and games today's children want, investors should play in a different sandbox.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for the Coming Recession * 10 Smart Dividend Stocks for the Rest of the Year * 5 Tech Stocks That Are Far Too Risky Right Now Compare Brokers The post MAT's Rejection of Merger Offer Not a Reason to Toy With Mattel Stock appeared first on InvestorPlace.
Mattel stock jumped following a report that it had rejected another a merger bid from privately held MGA Entertainment.