JAKKS Pacific, Inc. (NASDAQ:JAKK) Sees Large Drop in Short Interest

JAKKS Pacific, Inc. (NASDAQ:JAKK) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 290,500 shares, a decline of 9.2% from the October 15th total of 319,900 shares. Based on an average daily volume of 80,400 shares, the short-interest ratio is presently 3.6 days.

Analyst Ratings Changes

A number of research firms have issued reports on JAKK. StockNews.com raised shares of JAKKS Pacific from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Maxim Group initiated coverage on JAKKS Pacific in a research report on Monday, August 26th. They set a “buy” rating and a $46.00 price target for the company. Finally, B. Riley raised their price objective on JAKKS Pacific from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.67.

Institutional Investors Weigh In On JAKKS Pacific

Several hedge funds have recently modified their holdings of JAKK. Geode Capital Management LLC increased its stake in shares of JAKKS Pacific by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 198,146 shares of the company’s stock valued at $5,057,000 after purchasing an additional 12,809 shares in the last quarter. Barclays PLC grew its holdings in JAKKS Pacific by 62.1% in the third quarter. Barclays PLC now owns 17,037 shares of the company’s stock valued at $435,000 after purchasing an additional 6,526 shares during the period. State Street Corp grew its holdings in JAKKS Pacific by 4.2% in the third quarter. State Street Corp now owns 148,012 shares of the company’s stock valued at $3,777,000 after purchasing an additional 5,901 shares during the period. Philosophy Capital Management LLC acquired a new position in shares of JAKKS Pacific during the 3rd quarter worth approximately $7,105,000. Finally, Portolan Capital Management LLC acquired a new position in shares of JAKKS Pacific during the 3rd quarter worth approximately $2,787,000. 44.38% of the stock is owned by hedge funds and other institutional investors.

JAKKS Pacific Stock Performance

NASDAQ JAKK opened at $27.10 on Monday. The firm has a market capitalization of $297.83 million, a P/E ratio of 9.96 and a beta of 2.31. The stock has a 50-day simple moving average of $26.45 and a two-hundred day simple moving average of $22.16. JAKKS Pacific has a fifty-two week low of $17.06 and a fifty-two week high of $36.84.

JAKKS Pacific (NASDAQ:JAKK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $4.60 EPS for the quarter, topping the consensus estimate of $3.24 by $1.36. JAKKS Pacific had a return on equity of 15.27% and a net margin of 4.87%. The business had revenue of $321.61 million for the quarter, compared to analyst estimates of $303.44 million. As a group, analysts forecast that JAKKS Pacific will post 2.18 earnings per share for the current year.

About JAKKS Pacific

JAKKS Pacific, Inc designs, produces, markets, sells, and distributes toys and related products, electronic products, and other consumer products worldwide. It operates through two segments, Toys/Consumer Products and Costumes. The company offers action figures and accessories, such as licensed characters; toy vehicles and accessories; dolls and accessories, including small, large, fashion, and baby dolls based on licenses, as well as infant and pre-school products; private label products; and foot-to-floor ride-on products.