Victory Capital Management Inc. Purchases 24,384 Shares of JAKKS Pacific, Inc. (NASDAQ:JAKK)

Key Points

• Victory Capital Management Inc. significantly increased its holdings in JAKKS Pacific, acquiring an additional 24,384 shares, bringing their total ownership to 38,750 shares valued at approximately $956,000.
• JAKKS Pacific announced a quarterly dividend of $0.25, which translates to an annualized yield of 5.6%, with the payout ratio currently at 29.50%.
• JPMorgan Chase & Co. boosted its position in JAKKS Pacific by a staggering 2,093.3% during the fourth quarter, now owning 76,062 shares valued at around $2,141,000.

Victory Capital Management Inc. boosted its stake in JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report) by 169.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,750 shares of the company's stock after acquiring an additional 24,384 shares during the period. Victory Capital Management Inc. owned 0.35% of JAKKS Pacific worth $956,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JAKK. CWM LLC raised its position in JAKKS Pacific by 464.0% in the first quarter. CWM LLC now owns 3,057 shares of the company's stock valued at $75,000 after purchasing an additional 2,515 shares during the period. Heck Capital Advisors LLC bought a new stake in JAKKS Pacific during the fourth quarter worth approximately $89,000. State of Wyoming bought a new position in shares of JAKKS Pacific in the fourth quarter valued at $113,000. GAMMA Investing LLC grew its holdings in shares of JAKKS Pacific by 3,042.3% during the 1st quarter. GAMMA Investing LLC now owns 6,316 shares of the company's stock valued at $156,000 after acquiring an additional 6,115 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in JAKKS Pacific by 19.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,923 shares of the company's stock worth $195,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company's stock.

Insider Buying and Selling

In related news, CEO Stephen G. Berman sold 40,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $22.02, for a total transaction of $880,800.00. Following the completion of the sale, the chief executive officer directly owned 267,042 shares in the company, valued at $5,880,264.84. This represents a 13.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut JAKKS Pacific from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

JAKKS Pacific Price Performance

Shares of JAKK traded up $0.09 during trading hours on Monday, hitting $17.23. 41,370 shares of the stock were exchanged, compared to its average volume of 152,908. The firm has a market capitalization of $192.11 million, a P/E ratio of 5.09 and a beta of 1.19. The business has a 50-day moving average of $20.25 and a 200-day moving average of $23.15. JAKKS Pacific, Inc. has a fifty-two week low of $16.87 and a fifty-two week high of $35.79.

JAKKS Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. JAKKS Pacific's payout ratio is currently 29.50%.

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.