NEW YORK (TheStreet) -- Shares of Mattel Inc. (MAT) are lower by 1.43% to $31.61 on heavy volume in late afternoon trading on Wednesday, after it was announced the toy maker will lose the rights to Hasbro (HAS) to develop dolls based on Disney's (DIS) Princess and "Frozen" characters in 2016.
The popularity of "Frozen" themed dolls and toys helped to offset weakness in Mattel's Barbie segment, which fell 15% for the 2014 second quarter, the Associated Press reports.
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Separately, TheStreet Ratings team rates MATTEL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MATTEL INC (MAT) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."