Ascendiant Capital Markets Trims JAKKS Pacific (NASDAQ:JAKK) Target Price to $38.00

JAKKS Pacific (NASDAQ:JAKK - Free Report) had its price objective reduced by Ascendiant Capital Markets from $41.00 to $38.00 in a research note released on Monday morning, Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Separately, TheStreet cut JAKKS Pacific from a b rating to a c+ rating in a research report on Friday, March 1st.

JAKKS Pacific Trading Down 4.9 %

Shares of NASDAQ:JAKK traded down $1.21 on Monday, reaching $23.49. The company had a trading volume of 179,037 shares, compared to its average volume of 125,731. JAKKS Pacific has a 52-week low of $15.30 and a 52-week high of $36.84. The firm's 50 day simple moving average is $29.11 and its 200-day simple moving average is $27.40. The firm has a market capitalization of $253.69 million, a PE ratio of 6.89 and a beta of 2.34.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.47). JAKKS Pacific had a return on equity of 24.69% and a net margin of 5.24%. The business had revenue of $127.40 million for the quarter, compared to analysts' expectations of $136.54 million. As a group, equities research analysts predict that JAKKS Pacific will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On JAKKS Pacific

Several institutional investors and hedge funds have recently modified their holdings of JAKK. Quadrature Capital Ltd purchased a new position in shares of JAKKS Pacific in the 4th quarter valued at about $1,355,000. Vanguard Group Inc. increased its stake in shares of JAKKS Pacific by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 364,649 shares of the company's stock valued at $12,963,000 after purchasing an additional 4,660 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of JAKKS Pacific in the 4th quarter valued at about $1,066,000. Goldman Sachs Group Inc. purchased a new stake in JAKKS Pacific during the 4th quarter worth approximately $795,000. Finally, Legal & General Group Plc increased its stake in JAKKS Pacific by 32.2% during the 4th quarter. Legal & General Group Plc now owns 1,450 shares of the company's stock worth $52,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company's stock.

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.