Josh Arnold
Long/short equity

JAKKS Pacific: Down 40% But Still Too Expensive

JAKKS Pacific (NASDAQ:JAKK) is a developer, manufacturer and marketer of toys and consumer products for children in the US and internationally. The company, based in Malibu, California, operates in two segments, the first of which is comprised of traditional (low-tech) toys and electronic toys and the second, role play, novelty and seasonal toys, respectively. In a nutshell, the company wholesales its toys that are made under licensing agreements with various companies and its own private brands to retailers who then sell them to the public. JAKK sells action figures, toy vehicles, dress-up accessories, costumes, etc. The common stock was fetching nearly $30 as recently as 2008 and traded in the mid-teens in 2012. However, since that time, the...

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