Short Interest in JAKKS Pacific, Inc. (NASDAQ:JAKK) Drops By 15.4%

Key Points

• Short interest in JAKKS Pacific fell 15.4% in April to 464,023 shares (about 4.2% of the float), leaving a days-to-cover ratio of 7.9.
• The company beat Q1 estimates with EPS of ($0.17) versus consensus ($0.44) and revenue of $106.68M versus $103.8M, though analysts' consensus rating remains a Hold.
• JAKKS announced a $0.25 quarterly dividend (annualized $1.00) yielding 4.2% but carrying a high payout ratio of 117.65%, and the stock traded up 10.5% to $24.05 (market cap ≈ $275M).

JAKKS Pacific, Inc. (NASDAQ:JAKK - Get Free Report) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 464,023 shares, a drop of 15.4% from the March 31st total of 548,525 shares. Currently, 4.2% of the company's stock are short sold. Based on an average daily volume of 58,751 shares, the days-to-cover ratio is presently 7.9 days.

Wall Street Analysts Forecast Growth

JAKK has been the subject of several research reports. Wall Street Zen upgraded shares of JAKKS Pacific from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Zacks Research upgraded shares of JAKKS Pacific from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, JAKKS Pacific presently has a consensus rating of "Hold".

Institutional Trading of JAKKS Pacific

Institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC acquired a new stake in JAKKS Pacific in the third quarter valued at approximately $777,000. Gate City Capital Management LLC raised its position in shares of JAKKS Pacific by 47.6% in the fourth quarter. Gate City Capital Management LLC now owns 782,717 shares of the company's stock valued at $13,212,000 after purchasing an additional 252,337 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of JAKKS Pacific in the fourth quarter valued at approximately $5,494,000. Gamco Investors INC. ET AL bought a new position in shares of JAKKS Pacific in the fourth quarter valued at approximately $990,000. Finally, Gabelli Funds LLC bought a new position in shares of JAKKS Pacific in the fourth quarter valued at approximately $2,178,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

JAKKS Pacific Trading Up 10.5%

NASDAQ JAKK traded up $2.29 during trading on Friday, reaching $24.05. The company's stock had a trading volume of 146,453 shares, compared to its average volume of 104,474. The stock has a market capitalization of $275.07 million, a PE ratio of 28.29 and a beta of 1.65. The business has a 50-day moving average price of $21.11 and a 200-day moving average price of $18.81. JAKKS Pacific has a 1-year low of $14.86 and a 1-year high of $24.12.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.27. The firm had revenue of $106.68 million during the quarter, compared to analysts' expectations of $103.80 million. JAKKS Pacific had a net margin of 1.73% and a return on equity of 3.85%. As a group, analysts expect that JAKKS Pacific will post 2.06 earnings per share for the current year.

JAKKS Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. JAKKS Pacific's payout ratio is 117.65%.

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.

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