JAKKS Pacific (NASDAQ:JAKK) Lowered to Strong Sell Rating by Zacks Research

Key Points

• JAKKS Pacific was downgraded by Zacks Research from a "hold" to a "strong sell" rating, indicating a significant shift in analyst sentiment.
• Institutional investors have been active, with several firms purchasing new stakes, notably including Victory Capital Management, which increased its holdings by 169.7%.
• Despite recent changes, JAKKS Pacific has a consensus rating of "Hold" and a price target of $41.00, reflecting mixed analyst opinions.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen lowered shares of JAKKS Pacific from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $41.00.

JAKKS Pacific Stock Down 1.6%

NASDAQ:JAKK opened at $18.73 on Monday. JAKKS Pacific has a fifty-two week low of $16.24 and a fifty-two week high of $35.79. The stock has a market cap of $208.84 million, a PE ratio of 5.53 and a beta of 1.37. The firm's fifty day simple moving average is $17.85 and its 200-day simple moving average is $19.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in JAKKS Pacific in the 1st quarter valued at about $271,000. Nuveen LLC purchased a new position in JAKKS Pacific in the 1st quarter valued at about $714,000. Y Intercept Hong Kong Ltd purchased a new position in JAKKS Pacific in the 1st quarter valued at about $391,000. Jacobs Levy Equity Management Inc. purchased a new position in JAKKS Pacific in the 1st quarter valued at about $971,000. Finally, Victory Capital Management Inc. lifted its holdings in JAKKS Pacific by 169.7% in the 1st quarter. Victory Capital Management Inc. now owns 38,750 shares of the company's stock valued at $956,000 after purchasing an additional 24,384 shares in the last quarter. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.