Millennium Management LLC Lowers Stake in Jakks Pacific (JAKK)

Millennium Management LLC reduced its position in shares of Jakks Pacific (NASDAQ:JAKK) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 181,494 shares of the company’s stock after selling 30,347 shares during the quarter. Millennium Management LLC’s holdings in Jakks Pacific were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in Jakks Pacific by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 73,374 shares of the company’s stock valued at $172,000 after buying an additional 21,463 shares during the period. Spark Investment Management LLC purchased a new stake in Jakks Pacific during the 4th quarter valued at $114,000. Virtu Financial LLC purchased a new stake in Jakks Pacific during the 4th quarter valued at $149,000. Finally, Renaissance Technologies LLC raised its holdings in Jakks Pacific by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,069,500 shares of the company’s stock valued at $4,863,000 after buying an additional 182,100 shares during the period. Hedge funds and other institutional investors own 43.02% of the company’s stock.

JAKK stock opened at $3.05 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.91 and a quick ratio of 1.43. Jakks Pacific has a twelve month low of $2.70 and a twelve month high of $2.70.

Jakks Pacific (NASDAQ:JAKK) last released its earnings results on Thursday, April 26th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). Jakks Pacific had a negative return on equity of 27.69% and a negative net margin of 16.52%. The business had revenue of $93.00 million during the quarter, compared to analysts’ expectations of $87.65 million. analysts anticipate that Jakks Pacific will post -0.75 earnings per share for the current year.

Several research firms recently weighed in on JAKK. ValuEngine upgraded Jakks Pacific from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Jakks Pacific from a “hold” rating to a “sell” rating in a report on Monday, April 30th. Stifel Nicolaus decreased their price target on Jakks Pacific from $2.70 to $2.50 and set a “hold” rating on the stock in a report on Friday, April 27th. Finally, BMO Capital Markets restated a “market perform” rating and set a $2.50 price target (down previously from $3.50) on shares of Jakks Pacific in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $2.69.

About Jakks Pacific

JAKKS Pacific, Inc develops, produces, and markets consumer products worldwide. The company operates in three segments: U.S. and Canada, International, and Halloween. It 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 toys; private label products; and foot-to-floor ride-on toys, inflatable environments, tents, and wagons.

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Institutional Ownership by Quarter for Jakks Pacific (NASDAQ:JAKK)

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