Short Interest in JAKKS Pacific, Inc. (NASDAQ:JAKK) Decreases By 21.0%

JAKKS Pacific, Inc. (NASDAQ:JAKK) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 229,500 shares, a drop of 21.0% from the October 31st total of 290,500 shares. Based on an average trading volume of 87,600 shares, the days-to-cover ratio is currently 2.6 days.

Analysts Set New Price Targets

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

JAKKS Pacific Trading Up 1.3 %

JAKKS Pacific stock traded up $0.38 on Monday, hitting $29.51. 169,137 shares of the stock traded hands, compared to its average volume of 103,186. The business’s fifty day simple moving average is $27.15 and its 200 day simple moving average is $22.84. The firm has a market cap of $324.31 million, a P/E ratio of 10.56 and a beta of 2.31. JAKKS Pacific has a 1 year low of $17.06 and a 1 year high of $36.84.

JAKKS Pacific (NASDAQ:JAKK) last posted 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 net margin of 4.87% and a return on equity of 15.27%. The business had revenue of $321.61 million for the quarter, compared to analyst estimates of $303.44 million. As a group, analysts predict that JAKKS Pacific will post 2.18 earnings per share for the current year.

Insider Activity at JAKKS Pacific

In other news, CFO John Louis Kimble sold 48,253 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $27.62, for a total value of $1,332,747.86. Following the sale, the chief financial officer now owns 95,544 shares of the company’s stock, valued at $2,638,925.28. The trade was a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its stake in shares of JAKKS Pacific by 13.0% in the first quarter. Lazard Asset Management LLC now owns 8,847 shares of the company’s stock worth $218,000 after acquiring an additional 1,020 shares during the last quarter. Kovack Advisors Inc. grew its position in JAKKS Pacific by 5.8% during the 3rd quarter. Kovack Advisors Inc. now owns 19,100 shares of the company’s stock valued at $487,000 after purchasing an additional 1,050 shares during the last quarter. Bank of New York Mellon Corp increased its stake in JAKKS Pacific by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 64,296 shares of the company’s stock valued at $1,152,000 after purchasing an additional 1,363 shares in the last quarter. nVerses Capital LLC purchased a new position in JAKKS Pacific in the second quarter worth about $25,000. Finally, Rhumbline Advisers lifted its stake in shares of JAKKS Pacific by 15.4% in the second quarter. Rhumbline Advisers now owns 12,225 shares of the company’s stock worth $219,000 after buying an additional 1,636 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

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.