Franklin Resources Inc. Decreases Position in JAKKS Pacific, Inc. (NASDAQ:JAKK)

Franklin Resources Inc. trimmed its holdings in shares of JAKKS Pacific, Inc. (NASDAQ:JAKK) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 430,893 shares of the company’s stock after selling 16,425 shares during the period. Franklin Resources Inc.’s holdings in JAKKS Pacific were worth $11,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovack Advisors Inc. lifted its stake in shares of JAKKS Pacific by 5.8% in the 3rd quarter. Kovack Advisors Inc. now owns 19,100 shares of the company’s stock valued at $487,000 after acquiring an additional 1,050 shares during the last quarter. Bank of New York Mellon Corp lifted its position in JAKKS Pacific by 2.2% in the second 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 during the last quarter. nVerses Capital LLC bought a new stake in JAKKS Pacific in the second quarter valued at approximately $25,000. Rhumbline Advisers boosted its stake in shares of JAKKS Pacific by 15.4% during the second quarter. Rhumbline Advisers now owns 12,225 shares of the company’s stock valued at $219,000 after purchasing an additional 1,636 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of JAKKS Pacific by 5.2% in the third quarter. Empowered Funds LLC now owns 54,413 shares of the company’s stock worth $1,389,000 after purchasing an additional 2,680 shares during the last quarter. 44.38% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO John Louis Kimble sold 48,253 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 95,544 shares in the company, valued at $2,638,925.28. This trade represents a 33.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

JAKKS Pacific Trading Up 2.9 %

Shares of NASDAQ JAKK opened at $26.31 on Friday. The firm has a fifty day simple moving average of $27.74 and a two-hundred day simple moving average of $23.71. JAKKS Pacific, Inc. has a 12 month low of $17.06 and a 12 month high of $36.84. The firm has a market capitalization of $289.15 million, a PE ratio of 9.67 and a beta of 2.22.

JAKKS Pacific (NASDAQ:JAKK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.36. The company had revenue of $321.61 million during the quarter, compared to the consensus estimate of $303.44 million. JAKKS Pacific had a net margin of 4.87% and a return on equity of 15.27%. On average, sell-side analysts predict that JAKKS Pacific, Inc. will post 2.18 earnings per share for the current year.

JAKKS Pacific Company Profile

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.