Corsair Capital Management L.P. Raises Position in JAKKS Pacific, Inc. (NASDAQ:JAKK)

Corsair Capital Management L.P. boosted its position in JAKKS Pacific, Inc. (NASDAQ:JAKK) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 21,026 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Corsair Capital Management L.P.’s holdings in JAKKS Pacific were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in JAKKS Pacific by 13.0% in the 1st 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 in the last quarter. Kovack Advisors Inc. boosted its position in shares of 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 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% during 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 position in shares of JAKKS Pacific in the 2nd quarter worth $25,000. Finally, Rhumbline Advisers lifted its holdings in shares of JAKKS Pacific by 15.4% during the 2nd quarter. Rhumbline Advisers now owns 12,225 shares of the company’s stock worth $219,000 after acquiring an additional 1,636 shares during the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Insider Activity at JAKKS Pacific

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 value of $1,332,747.86. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

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

JAKKS Pacific Trading Down 1.2 %

JAKKS Pacific stock opened at $27.90 on Wednesday. The firm has a market cap of $306.62 million, a price-to-earnings ratio of 10.26 and a beta of 2.31. JAKKS Pacific, Inc. has a 12 month low of $17.06 and a 12 month high of $36.84. The stock has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $22.63.

JAKKS Pacific (NASDAQ:JAKK) last posted its earnings results on Wednesday, October 30th. The company reported $4.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.36. The business had revenue of $321.61 million for the quarter, compared to analysts’ expectations of $303.44 million. JAKKS Pacific had a net margin of 4.87% and a return on equity of 15.27%. On average, equities research analysts forecast that JAKKS Pacific, Inc. will post 2.18 EPS for the current fiscal year.

JAKKS Pacific 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.