Benefit Street Partners Llc Sells 85,000 Shares of JAKKS Pacific, Inc. (NASDAQ:JAKK) Stock

Posted by MarketBeat News on Aug 5th, 2022

JAKKS Pacific, Inc. (NASDAQ:JAKK – Get Rating) major shareholder Benefit Street Partners Llc sold 85,000 shares of JAKKS Pacific stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $22.54, for a total value of $1,915,900.00. Following the completion of the transaction, the insider now owns 776,524 shares of the company’s stock, valued at approximately $17,502,850.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Benefit Street Partners Llc also recently made the following trade(s):

On Thursday, July 28th, Benefit Street Partners Llc sold 202,000 shares of JAKKS Pacific stock. The shares were sold at an average price of $22.92, for a total value of $4,629,840.00.

JAKKS Pacific Trading Up 8.5 %

Shares of JAKKS Pacific stock opened at $26.75 on Friday. The stock has a market cap of $256.00 million, a P/E ratio of 4.63 and a beta of 2.35. The stock’s 50 day simple moving average is $14.59 and its 200-day simple moving average is $13.66. JAKKS Pacific, Inc. has a 1-year low of $7.50 and a 1-year high of $26.96. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.47 and a quick ratio of 0.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JAKK shares. BMO Capital Markets upgraded JAKKS Pacific from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $15.00 to $21.00 in a report on Tuesday, May 3rd. Jefferies Financial Group lowered their price objective on JAKKS Pacific from $15.00 to $14.00 in a report on Friday, July 15th. Finally, StockNews.com upgraded JAKKS Pacific from a “buy” rating to a “strong-buy” rating in a report on Monday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JAKK. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of JAKKS Pacific during the 1st quarter worth approximately $2,020,000. Oasis Management Co Ltd. acquired a new position in shares of JAKKS Pacific during the 1st quarter worth approximately $1,488,000. EAM Investors LLC acquired a new position in shares of JAKKS Pacific during the 1st quarter worth approximately $1,264,000. Acadian Asset Management LLC boosted its holdings in shares of JAKKS Pacific by 27.2% during the 4th quarter. Acadian Asset Management LLC now owns 268,750 shares of the company’s stock worth $2,729,000 after purchasing an additional 57,527 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of JAKKS Pacific by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 253,924 shares of the company’s stock worth $3,563,000 after purchasing an additional 24,695 shares during the last quarter. 57.15% of the stock is currently owned by institutional investors and hedge funds.

JAKKS Pacific Company Profile

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JAKKS Pacific, Inc develops, produces, markets, sells, and distributes toys, consumables, and electronics and related products worldwide. It operates in 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, inflatable environments, tents, and wagons.