JPMorgan Chase & Co. Sells 115,655 Shares of JAKKS Pacific, Inc. (NASDAQ:JAKK)

JPMorgan Chase & Co. reduced its stake in JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report) by 97.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,468 shares of the company's stock after selling 115,655 shares during the period. JPMorgan Chase & Co.'s holdings in JAKKS Pacific were worth $89,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in JAKK. Philosophy Capital Management LLC bought a new position in shares of JAKKS Pacific during the third quarter worth $7,105,000. AQR Capital Management LLC lifted its holdings in JAKKS Pacific by 75.9% during the second quarter. AQR Capital Management LLC now owns 269,948 shares of the company's stock worth $4,835,000 after acquiring an additional 116,519 shares in the last quarter. Portolan Capital Management LLC acquired a new position in JAKKS Pacific in the third quarter valued at about $2,787,000. Dimensional Fund Advisors LP grew its stake in JAKKS Pacific by 29.8% in the second quarter. Dimensional Fund Advisors LP now owns 444,488 shares of the company's stock valued at $7,961,000 after acquiring an additional 102,155 shares during the period. Finally, Creative Planning bought a new stake in shares of JAKKS Pacific in the second quarter worth about $527,000. 44.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JAKK. B. Riley lifted their price objective on JAKKS Pacific from $37.00 to $41.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com raised shares of JAKKS Pacific from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, JAKKS Pacific presently has an average rating of "Buy" and a consensus target price of $41.67.

Insiders Place Their Bets

In other news, CFO John Louis Kimble sold 48,253 shares of JAKKS Pacific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $27.62, for a total value of $1,332,747.86. Following the sale, the chief financial officer now directly owns 95,544 shares in the company, valued at $2,638,925.28. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company's stock.

JAKKS Pacific Trading Up 1.5 %

Shares of JAKK stock traded up $0.48 on Thursday, hitting $32.94. 125,459 shares of the stock were exchanged, compared to its average volume of 90,348. The business has a 50-day moving average of $28.14 and a 200 day moving average of $26.08. JAKKS Pacific, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $36.35. The firm has a market capitalization of $362.01 million, a P/E ratio of 12.11 and a beta of 2.22.

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.