Allspring Global Investments Holdings LLC Cuts Stock Holdings in JAKKS Pacific, Inc. (NASDAQ:JAKK)

Allspring Global Investments Holdings LLC lowered its stake in shares of JAKKS Pacific, Inc. (NASDAQ:JAKK) by 35.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,081 shares of the company’s stock after selling 7,608 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in JAKKS Pacific were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of JAKK. Janney Montgomery Scott LLC increased its position in shares of JAKKS Pacific by 9.6% during the first quarter. Janney Montgomery Scott LLC now owns 21,983 shares of the company’s stock worth $543,000 after acquiring an additional 1,931 shares during the period. LSV Asset Management increased its position in shares of JAKKS Pacific by 40.3% during the first quarter. LSV Asset Management now owns 212,380 shares of the company’s stock worth $5,246,000 after acquiring an additional 60,977 shares during the period. Empowered Funds LLC increased its position in shares of JAKKS Pacific by 7.8% during the first quarter. Empowered Funds LLC now owns 48,133 shares of the company’s stock worth $1,189,000 after acquiring an additional 3,500 shares during the period. Vanguard Group Inc. increased its position in shares of JAKKS Pacific by 2.9% during the first quarter. Vanguard Group Inc. now owns 375,395 shares of the company’s stock worth $9,272,000 after acquiring an additional 10,746 shares during the period. Finally, Hillsdale Investment Management Inc. increased its position in shares of JAKKS Pacific by 35.7% during the first quarter. Hillsdale Investment Management Inc. now owns 98,518 shares of the company’s stock worth $2,433,000 after acquiring an additional 25,900 shares during the period. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on JAKK. Maxim Group began coverage on JAKKS Pacific in a report on Monday, August 26th. They issued a “buy” rating and a $46.00 target price on the stock. Small Cap Consu raised JAKKS Pacific to a “strong-buy” rating in a report on Tuesday, July 16th. B. Riley increased their target price on JAKKS Pacific from $37.00 to $41.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com raised JAKKS Pacific from a “hold” rating to a “buy” rating in a report on Friday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $41.67.

JAKKS Pacific Stock Performance

Shares of JAKK stock opened at $29.93 on Friday. The stock’s 50-day moving average is $25.35 and its two-hundred day moving average is $21.58. The firm has a market cap of $328.93 million, a price-to-earnings ratio of 11.00 and a beta of 2.31. 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 quarterly earnings data on Wednesday, October 30th. The company reported $4.60 earnings per share (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 return on equity of 15.27% and a net margin of 4.87%. As a group, research analysts predict that JAKKS Pacific, Inc. will post 2.18 EPS for the current 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.