Hedge Funds Are Buying JAKKS Pacific, Inc. (JAKK)

As one would reasonably expect, key hedge funds were leading the bulls’ herd. Algert Coldiron Investors, led by Peter Algert and Kevin Coldiron, initiated the largest position in JAKKS Pacific, Inc. (NASDAQ:JAKK). Algert Coldiron Investors had $2.3 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $0.1 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group and Israel Englander’s Millennium Management..

Let’s go over hedge fund activity in other stocks similar to JAKKS Pacific, Inc. (NASDAQ:JAKK). We will take a look at VirnetX Holding Corporation (NYSEAMEX:VHC), Townsquare Media Inc (NYSE:TSQ), Global Medical REIT Inc (NYSE:GMRE), and TriplePoint Venture Growth BDC Corp (NYSE:TPVG). This group of stocks’ market values match JAKK’s market value.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $34 million in JAKK’s case. Townsquare Media Inc (NYSE:TSQ) is the most popular stock in this table. On the other hand VirnetX Holding Corporation (NYSEAMEX:VHC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks JAKKS Pacific, Inc. (NASDAQ:JAKK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.