JAKKS Pacific, Inc. (NASDAQ:JAKK) Sees Significant Drop in Short Interest

JAKKS Pacific, Inc. (NASDAQ:JAKK) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 490,600 shares, a drop of 7.7% from the July 15th total of 531,700 shares. Based on an average daily volume of 95,700 shares, the short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JAKK shares. StockNews.com lowered JAKKS Pacific from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Small Cap Consu raised shares of JAKKS Pacific to a “strong-buy” rating in a research note on Tuesday, July 16th.

Insider Activity at JAKKS Pacific

In other news, major shareholder Lawrence I. Rosen acquired 10,088 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was bought at an average price of $17.58 per share, with a total value of $177,347.04. Following the completion of the acquisition, the insider now owns 1,885,672 shares in the company, valued at approximately $33,150,113.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JAKKS Pacific

Several large investors have recently made changes to their positions in JAKK. Lazard Asset Management LLC increased its position in 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 purchasing an additional 1,020 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 worth $1,152,000 after buying an additional 1,363 shares during the period. nVerses Capital LLC acquired a new stake in shares of JAKKS Pacific during the 2nd quarter worth approximately $25,000. Russell Investments Group Ltd. raised its stake in shares of JAKKS Pacific by 37.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,522 shares of the company’s stock worth $196,000 after buying an additional 1,494 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in JAKKS Pacific by 15.4% in the second quarter. Rhumbline Advisers now owns 12,225 shares of the company’s stock valued at $219,000 after buying an additional 1,636 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.

JAKKS Pacific Stock Performance

NASDAQ:JAKK opened at $23.09 on Wednesday. The stock’s fifty day moving average price is $19.49 and its two-hundred day moving average price is $22.31. The company has a market cap of $249.40 million, a price-to-earnings ratio of 8.49 and a beta of 2.37. JAKKS Pacific has a 52-week low of $15.30 and a 52-week high of $36.84.

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.