Philosophy Capital Management LLC Invests $7.11 Million in JAKKS Pacific, Inc. (NASDAQ:JAKK)

Philosophy Capital Management LLC bought a new stake in JAKKS Pacific, Inc. (NASDAQ:JAKK) during the third quarter, Holdings Channel reports. The institutional investor bought 278,415 shares of the company’s stock, valued at approximately $7,105,000. JAKKS Pacific comprises 0.6% of Philosophy Capital Management LLC’s holdings, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in JAKKS Pacific by 2.9% in the first quarter. Vanguard Group Inc. now owns 375,395 shares of the company’s stock valued at $9,272,000 after purchasing an additional 10,746 shares during the period. Simplicity Wealth LLC increased its position in JAKKS Pacific by 10.1% in the 2nd quarter. Simplicity Wealth LLC now owns 20,506 shares of the company’s stock valued at $367,000 after acquiring an additional 1,888 shares during the period. Bank of New York Mellon Corp raised 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 acquiring an additional 1,363 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in JAKKS Pacific by 154,821.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,689 shares of the company’s stock valued at $388,000 after acquiring an additional 21,675 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of JAKKS Pacific in the 2nd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Insiders Place Their Bets

In related news, CFO John Louis Kimble sold 48,253 shares of JAKKS Pacific stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $27.62, for a total transaction of $1,332,747.86. Following the completion of the transaction, the chief financial officer now directly owns 95,544 shares of the company’s stock, valued at approximately $2,638,925.28. The trade was a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on JAKK. StockNews.com upgraded JAKKS Pacific from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Maxim Group initiated coverage on shares of JAKKS Pacific in a research report on Monday, August 26th. They set a “buy” rating and a $46.00 price objective for the company. Finally, B. Riley lifted 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $41.67.

JAKKS Pacific Price Performance

Shares of JAKK stock opened at $28.28 on Wednesday. The business’s fifty day moving average price is $27.29 and its 200 day moving average price is $22.97. The firm has a market capitalization of $310.80 million, a PE ratio of 10.40 and a beta of 2.22. JAKKS Pacific, Inc. has a 1-year low of $17.06 and a 1-year high of $36.84.

JAKKS Pacific (NASDAQ:JAKK) last issued its earnings results on Wednesday, October 30th. The company reported $4.60 EPS for the quarter, topping the consensus estimate of $3.24 by $1.36. The company had revenue of $321.61 million for the quarter, compared to analyst estimates of $303.44 million. JAKKS Pacific had a net margin of 4.87% and a return on equity of 15.27%. Equities research analysts expect that JAKKS Pacific, Inc. will post 2.18 earnings per share for the current fiscal 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.