JAKKS Pacific, Inc. (NASDAQ:JAKK) is Bastion Asset Management Inc.'s 10th Largest Position

Key Points

• Bastion Asset Management Inc. reduced its stake in JAKKS Pacific by 26.9% during the first quarter, holding 195,498 shares worth approximately $4.86 million, making it the company's 10th largest holding.
• Institutional ownership of JAKKS Pacific is at 44.38%, with other hedge funds like CWM LLC increasing their stake by 464.0% in the same quarter.
• The company declared a quarterly dividend of $0.25, resulting in an annualized dividend yield of 5.24%, with payment to be made on September 30th.

Bastion Asset Management Inc. cut its position in JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,498 shares of the company's stock after selling 72,035 shares during the period. JAKKS Pacific accounts for approximately 2.6% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Bastion Asset Management Inc. owned about 1.75% of JAKKS Pacific worth $4,863,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JAKK. Allspring Global Investments Holdings LLC purchased a new stake in shares of JAKKS Pacific during the first quarter worth $271,000. Ameriprise Financial Inc. lifted 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 acquiring an additional 46,102 shares in the last quarter. Prospect Capital Advisors LLC purchased a new stake in shares of JAKKS Pacific during the fourth quarter worth $1,904,000. Man Group plc purchased a new stake in shares of JAKKS Pacific in the fourth quarter worth $469,000. Finally, Integrity Wealth Advisors Inc. purchased a new stake in shares of JAKKS Pacific in the fourth quarter worth $550,000. Institutional investors and hedge funds own 44.38% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut JAKKS Pacific from a "buy" rating to a "hold" rating in a research note on Saturday.

JAKKS Pacific Stock Performance

Shares of JAKK traded up $0.26 during mid-day trading on Wednesday, reaching $18.01. The company had a trading volume of 67,543 shares, compared to its average volume of 150,626. The company has a market capitalization of $200.68 million, a price-to-earnings ratio of 5.31 and a beta of 1.06. JAKKS Pacific, Inc. has a 52 week low of $17.27 and a 52 week high of $35.79. The firm has a 50-day moving average price of $20.41 and a 200 day moving average price of $23.38.

JAKKS Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 5.55%. JAKKS Pacific's payout ratio is 29.50%.

Insider Buying and Selling

In other JAKKS Pacific news, CEO Stephen G. Berman sold 40,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $22.02, for a total value of $880,800.00. Following the completion of the sale, the chief executive officer owned 267,042 shares in the company, valued at approximately $5,880,264.84. This represents a 13.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.90% of the company's stock.

JAKKS Pacific Company 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.