Kovack Advisors Inc. Sells 4,480 Shares of JAKKS Pacific, Inc. (NASDAQ:JAKK)

Kovack Advisors Inc. trimmed its stake in JAKKS Pacific, Inc. (NASDAQ:JAKK) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,620 shares of the company’s stock after selling 4,480 shares during the period. Kovack Advisors Inc. owned approximately 0.13% of JAKKS Pacific worth $412,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in JAKKS Pacific by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 57,989 shares of the company’s stock valued at $1,632,000 after acquiring an additional 831 shares during the last quarter. Empowered Funds LLC grew its position in JAKKS Pacific by 5.2% during the third quarter. Empowered Funds LLC now owns 54,413 shares of the company’s stock valued at $1,389,000 after acquiring an additional 2,680 shares during the last quarter. Heck Capital Advisors LLC bought a new position in JAKKS Pacific during the fourth quarter valued at approximately $89,000. Corsair Capital Management L.P. grew its position in JAKKS Pacific by 31.2% during the third quarter. Corsair Capital Management L.P. now owns 21,026 shares of the company’s stock valued at $537,000 after acquiring an additional 5,000 shares during the last quarter. Finally, State Street Corp grew its position in JAKKS Pacific by 4.2% during the third quarter. State Street Corp now owns 148,012 shares of the company’s stock valued at $3,777,000 after acquiring an additional 5,901 shares during the last quarter. 44.38% of the stock is currently owned by institutional investors.

JAKKS Pacific Stock Performance

Shares of JAKKS Pacific stock opened at $27.08 on Friday. JAKKS Pacific, Inc. has a 52-week low of $17.06 and a 52-week high of $36.30. The stock has a market capitalization of $297.61 million, a price-to-earnings ratio of 9.00 and a beta of 2.22. The company’s 50 day moving average price is $29.51 and its 200-day moving average price is $27.30.

JAKKS Pacific (NASDAQ:JAKK) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.83). The company had revenue of $130.74 million during the quarter, compared to the consensus estimate of $131.07 million. JAKKS Pacific had a net margin of 5.10% and a return on equity of 15.87%. As a group, equities research analysts forecast that JAKKS Pacific, Inc. will post 3.52 earnings per share for the current fiscal year.

JAKKS Pacific Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. JAKKS Pacific’s dividend payout ratio is 33.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of JAKKS Pacific from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.67.

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.