Gabelli Funds LLC Buys 59,473 Shares of JAKKS Pacific, Inc. $JAKK

Key Points

• Gabelli Funds increased its JAKKS Pacific stake by 46.1% in the first quarter, buying 59,473 shares to hold 188,492 shares worth approximately $3.76 million. Institutional investors collectively own 44.38% of the company.
• JAKKS Pacific reported quarterly EPS of -$0.17, beating estimates of -$0.44, while revenue reached $106.68 million versus expectations of $103.80 million.
• The company announced a quarterly dividend of $0.25 per share, representing a $1.00 annualized payout and a 3.8% yield. Analysts maintain a consensus “Hold” rating, although one research firm upgraded the stock to “Buy.”

Gabelli Funds LLC grew its stake in shares of JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report) by 46.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 188,492 shares of the company's stock after buying an additional 59,473 shares during the quarter. Gabelli Funds LLC owned approximately 1.65% of JAKKS Pacific worth $3,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JAKK. AQR Capital Management LLC lifted its stake in shares of JAKKS Pacific by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 140,666 shares of the company's stock valued at $3,470,000 after acquiring an additional 56,873 shares during the last quarter. Empowered Funds LLC grew its position in JAKKS Pacific by 7.1% during the 1st quarter. Empowered Funds LLC now owns 61,228 shares of the company's stock worth $1,510,000 after acquiring an additional 4,071 shares during the last quarter. Geode Capital Management LLC grew its position in JAKKS Pacific by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 217,187 shares of the company's stock worth $4,514,000 after acquiring an additional 11,469 shares during the last quarter. JPMorgan Chase & Co. grew its position in JAKKS Pacific by 16.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,368 shares of the company's stock worth $964,000 after acquiring an additional 6,538 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of JAKKS Pacific by 155.3% in the second quarter. Hsbc Holdings PLC now owns 23,480 shares of the company's stock valued at $489,000 after buying an additional 14,284 shares during the period. Institutional investors own 44.38% of the company's stock.

JAKKS Pacific Stock Performance

Shares of JAKK opened at $26.63 on Wednesday. JAKKS Pacific, Inc. has a 52-week low of $14.86 and a 52-week high of $26.75. The business's 50 day moving average price is $22.85 and its two-hundred day moving average price is $21.22. The firm has a market cap of $304.65 million, a PE ratio of 19.16 and a beta of 1.44.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.27. The company had revenue of $106.68 million during the quarter, compared to the consensus estimate of $103.80 million. JAKKS Pacific had a net margin of 2.77% and a return on equity of 4.33%. Research analysts predict that JAKKS Pacific, Inc. will post 1.64 EPS for the current fiscal year.

JAKKS Pacific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, August 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 annualized dividend and a yield of 3.8%. JAKKS Pacific's dividend payout ratio is currently 71.94%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JAKK shares. Zacks Research upgraded JAKKS Pacific from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings raised JAKKS Pacific from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded JAKKS Pacific from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

About JAKKS Pacific

JAKKS Pacific, Inc NASDAQ: JAKK is a Los Angeles–based company that designs, develops and markets a broad range of toys and consumer products. Since its founding in 1995 by industry veteran Jack Friedman, the company has built a diversified portfolio spanning three primary segments: Toys, Consumer Electronics & Seasonal, and Kids Furniture & Accessories. JAKKS Pacific specializes in both licensed and proprietary brands, collaborating with major entertainment and sports licensors to bring popular characters and franchises to market.

The company's Toys segment includes action figures, dolls, role-play items, collectible toys and outdoor activity products.

Want to see what other hedge funds are holding JAKK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.