Pine River Capital Management Sells 50,961 Shares of Jakks Pacific Inc. (JAKK) Stock
Jakks Pacific Inc. (NASDAQ:JAKK) major shareholder Pine River Capital Management sold 50,961 shares of Jakks Pacific stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $7.27, for a total value of $370,486.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Jakks Pacific Inc. (NASDAQ:JAKK) opened at 8.73 on Friday. The company has a market cap of $141.01 million, a P/E ratio of 16.66 and a beta of 0.34. Jakks Pacific Inc. has a 52-week low of $6.17 and a 52-week high of $9.75. The company has a 50-day moving average price of $9.10 and a 200-day moving average price of $8.10.
Jakks Pacific (NASDAQ:JAKK) last posted its earnings results on Wednesday, July 20th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. Jakks Pacific had a return on equity of 10.42% and a net margin of 2.00%. The company had revenue of $141 million for the quarter, compared to the consensus estimate of $134.80 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Jakks Pacific’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Jakks Pacific Inc. will post $0.79 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of JAKK. Acadian Asset Management LLC increased 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 in the last quarter. Spark Investment Management LLC purchased a new position in Jakks Pacific during the first quarter worth $461,000. OMERS ADMINISTRATION Corp purchased a new position in Jakks Pacific during the first quarter worth $141,000. Lazard Asset Management LLC increased its position in Jakks Pacific by 0.6% in the first quarter. Lazard Asset Management LLC now owns 51,534 shares of the company’s stock worth $383,000 after buying an additional 291 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Jakks Pacific during the first quarter worth $163,000.
A number of analysts have recently issued reports on JAKK shares. Zacks Investment Research upgraded Jakks Pacific from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Tuesday. B. Riley reiterated a “neutral” rating and set a $10.00 price target on shares of Jakks Pacific in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Jakks Pacific currently has a consensus rating of “Buy” and a consensus target price of $11.58.
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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