Pine River Capital Management Sells 43,010 Shares of Jakks Pacific Inc. (JAKK) Stock
Jakks Pacific Inc. (NASDAQ:JAKK) major shareholder Pine River Capital Management sold 43,010 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $7.81, for a total value of $335,908.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Jakks Pacific Inc. (NASDAQ:JAKK) opened at 8.73 on Friday. The stock has a 50 day moving average price of $9.10 and a 200-day moving average price of $8.10. Jakks Pacific Inc. has a one year low of $6.17 and a one year high of $9.75. The stock has a market cap of $141.01 million, a PE ratio of 16.66 and a beta of 0.34.
Jakks Pacific (NASDAQ:JAKK) last issued its quarterly earnings data on Wednesday, July 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The business earned $141 million during the quarter, compared to analysts’ expectations of $134.80 million. Jakks Pacific had a return on equity of 10.42% and a net margin of 2.00%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. Equities research analysts expect that Jakks Pacific Inc. will post $0.79 earnings per share for the current fiscal year.
JAKK has been the subject of several research analyst reports. Zacks Investment Research upgraded Jakks Pacific from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a report on Friday, July 22nd. B. Riley restated a “neutral” rating and set a $10.00 price target on shares of Jakks Pacific in a report on Tuesday, July 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $11.58.
A number of institutional investors have recently added to or reduced their stakes in the company. Walthausen & Co. LLC acquired a new position in Jakks Pacific during the second quarter worth $3,922,000. JPMorgan Chase & Co. boosted its position in Jakks Pacific by 835,921.4% in the second quarter. JPMorgan Chase & Co. now owns 351,129 shares of the company’s stock worth $2,778,000 after buying an additional 351,087 shares during the last quarter. Franklin Resources Inc. boosted its position in Jakks Pacific by 10.5% in the second quarter. Franklin Resources Inc. now owns 2,525,010 shares of the company’s stock worth $19,972,000 after buying an additional 240,470 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Jakks Pacific during the second quarter worth $1,293,000. Finally, Acadian Asset Management LLC boosted its position in Jakks Pacific by 18.2% in the first quarter. Acadian Asset Management LLC now owns 830,449 shares of the company’s stock worth $6,178,000 after buying an additional 127,907 shares during the last quarter.
About Jakks Pacific
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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