Jacobs Levy Equity Management Inc. Invests $971,000 in JAKKS Pacific, Inc. $JAKK

Jacobs Levy Equity Management Inc. acquired a new position in JAKKS Pacific, Inc. (NASDAQ:JAKK) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 39,344 shares of the company’s stock, valued at approximately $971,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of JAKKS Pacific during the first quarter worth $271,000. Ameriprise Financial Inc. raised its position in shares of JAKKS Pacific by 71.5% during the fourth quarter. Ameriprise Financial Inc. now owns 110,612 shares of the company’s stock worth $3,114,000 after purchasing an additional 46,102 shares during the period. Nuveen LLC acquired a new stake in shares of JAKKS Pacific during the first quarter worth $714,000. Prospect Capital Advisors LLC acquired a new stake in shares of JAKKS Pacific during the fourth quarter worth $1,904,000. Finally, Man Group plc acquired a new stake in shares of JAKKS Pacific during the fourth quarter worth $469,000. 44.38% of the stock is owned by institutional investors and hedge funds.

JAKKS Pacific Trading Up 1.4%

NASDAQ:JAKK opened at $17.71 on Friday. The firm has a market capitalization of $197.47 million, a price-to-earnings ratio of 5.22 and a beta of 1.37. JAKKS Pacific, Inc. has a 1-year low of $16.24 and a 1-year high of $35.79. The business’s fifty day moving average price is $18.28 and its 200 day moving average price is $20.54.

JAKKS Pacific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 5.6%. JAKKS Pacific’s payout ratio is 29.50%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JAKK. Wall Street Zen lowered JAKKS Pacific from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research raised JAKKS Pacific from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.