California State Teachers Retirement System decreased its stake in Jakks Pacific Inc. (NASDAQ:JAKK) by 8.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,111 shares of the company’s stock after selling 2,863 shares during the period. California State Teachers Retirement System owned 0.20% of Jakks Pacific worth $254,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Spark Investment Management LLC acquired a new position in shares of Jakks Pacific during the first quarter worth about $461,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Jakks Pacific during the first quarter worth about $141,000. Lazard Asset Management LLC boosted its position in shares of Jakks Pacific by 0.6% in the first quarter. Lazard Asset Management LLC now owns 51,534 shares of the company’s stock worth $383,000 after buying an additional 291 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Jakks Pacific by 13.4% in the first quarter. Geode Capital Management LLC now owns 135,498 shares of the company’s stock worth $1,007,000 after buying an additional 16,040 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Jakks Pacific during the second quarter worth about $749,000.
Shares of Jakks Pacific Inc. (NASDAQ:JAKK) traded down 0.61% during midday trading on Wednesday, hitting $8.20. 10,345 shares of the company’s stock traded hands. Jakks Pacific Inc. has a 1-year low of $6.17 and a 1-year high of $9.75. The company has a 50 day moving average price of $8.65 and a 200 day moving average price of $8.25. The firm has a market capitalization of $132.45 million, a price-to-earnings ratio of 15.65 and a beta of 0.55.
Jakks Pacific (NASDAQ:JAKK) last announced its earnings results on Wednesday, July 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.04. Jakks Pacific had a net margin of 2.00% and a return on equity of 10.42%. The company had revenue of $141 million for the quarter, compared to analyst estimates of $134.80 million. During the same period in the prior year, the business earned ($0.30) earnings per share. Jakks Pacific’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Jakks Pacific Inc. will post $0.78 earnings per share for the current year.
A number of equities analysts have issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $10.00 target price on shares of Jakks Pacific in a report on Tuesday, July 26th. Zacks Investment Research raised shares of Jakks Pacific from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Jakks Pacific currently has an average rating of “Buy” and a consensus target price of $11.58.
In other news, major shareholder Patrick Soon-Shiong sold 133,619 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $8.82, for a total transaction of $1,178,519.58. Following the transaction, the insider now directly owns 239,622 shares in the company, valued at $2,113,466.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.10% of the company’s stock.
About Jakks Pacific
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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