Jakks Pacific Inc. (NASDAQ:JAKK) – B. Riley dropped their Q3 2016 EPS estimates for shares of Jakks Pacific in a report released on Monday. B. Riley analyst L. Weiser now expects that the firm will post earnings of $1.09 per share for the quarter, down from their prior forecast of $1.30. B. Riley has a “Neutral” rating and a $10.00 price objective on the stock.
Separately, Zacks Investment Research upgraded Jakks Pacific from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, September 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Jakks Pacific has a consensus rating of “Buy” and a consensus price target of $11.58.
Shares of Jakks Pacific (NASDAQ:JAKK) traded up 1.71% during mid-day trading on Tuesday, reaching $8.90. The company had a trading volume of 117,932 shares. The firm has a market capitalization of $143.75 million, a PE ratio of 16.98 and a beta of 0.55. Jakks Pacific has a 12-month low of $6.17 and a 12-month high of $9.75. The stock has a 50 day moving average price of $8.93 and a 200 day moving average price of $8.17.
Jakks Pacific (NASDAQ:JAKK) last announced its earnings results on Wednesday, July 20th. The company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. Jakks Pacific had a return on equity of 10.42% and a net margin of 2.00%. The business had revenue of $141 million for the quarter, compared to analysts’ expectations of $134.80 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in the stock. Walthausen & Co. LLC purchased a new position in shares of Jakks Pacific during the second quarter worth $3,922,000. JPMorgan Chase & Co. boosted its position in shares of Jakks Pacific by 835,921.4% in the second quarter. JPMorgan Chase & Co. now owns 351,129 shares of the company’s stock worth $2,778,000 after buying an additional 351,087 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Jakks Pacific by 10.5% in the second quarter. Franklin Resources Inc. now owns 2,525,010 shares of the company’s stock worth $19,972,000 after buying an additional 240,470 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Jakks Pacific during the second quarter worth $1,293,000. Finally, Bank of Montreal Can purchased a new position in shares of Jakks Pacific during the second quarter worth $749,000.
In related news, major shareholder Patrick Soon-Shiong sold 21,809 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $8.43, for a total transaction of $183,849.87. Following the transaction, the insider now directly owns 239,622 shares of the company’s stock, valued at approximately $2,020,013.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.
About Jakks Pacific
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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