Shares of Mattel
MAT,
traded increased late on Thursday after The Wall Street Journal reported activist investor Barington Capital had constructed an undisclosed stake within the firm.
The inventory rose 4.3% to $19.05 in after-hours buying and selling. Shares are down 14% within the final 12 months.
On Thursday, the WSJ reported that Barington despatched a letter to Mattel Chief Executive Ynon Kreiz telling him the corporate ought to pursue strategic alternate options for its Fisher-Price and American Girl companies.
Barington founder James Mitarotonda additionally mentioned within the letter that the toymaker ought to pull again on stock-based compensation and launch a $2 billion share buyback.
Source web site: www.marketwatch.com
