Piper Sandler Equities Analysts Cut Earnings Estimates for Funko, Inc. (NASDAQ:FNKO)

Funko, Inc. (NASDAQ:FNKO) – Piper Sandler reduced their Q3 2021 earnings per share estimates for Funko in a research note issued on Wednesday, October 27th. Piper Sandler analyst E. Murphy now expects that the company will post earnings of $0.22 per share for the quarter, down from their prior forecast of $0.25. Piper Sandler also issued estimates for Funko’s Q1 2022 earnings at $0.16 EPS, Q3 2022 earnings at $0.30 EPS and Q4 2022 earnings at $0.19 EPS.

Other analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of Funko from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.00 to $25.00 in a research report on Tuesday, August 31st. TheStreet downgraded shares of Funko from a “b-” rating to a “c+” rating in a research report on Thursday, July 8th. DA Davidson upped their target price on shares of Funko from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Finally, Zacks Investment Research raised shares of Funko from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, October 11th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.72.

NASDAQ:FNKO opened at $16.10 on Thursday. The firm’s 50-day moving average price is $18.71 and its 200-day moving average price is $20.65. The company has a market capitalization of $812.21 million, a PE ratio of 15.78, a P/E/G ratio of 0.44 and a beta of 2.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.74 and a quick ratio of 1.30. Funko has a 1-year low of $5.99 and a 1-year high of $27.20.

Funko (NASDAQ:FNKO) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.29. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $204.77 million. Funko had a net margin of 4.63% and a return on equity of 17.42%.

Several large investors have recently modified their holdings of FNKO. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Funko in the 2nd quarter worth approximately $56,000. Advisor Group Holdings Inc. lifted its stake in shares of Funko by 763.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,937 shares of the company’s stock worth $63,000 after purchasing an additional 2,597 shares during the period. Metropolitan Life Insurance Co NY bought a new position in shares of Funko in the 1st quarter worth approximately $85,000. Legal & General Group Plc lifted its stake in shares of Funko by 93.3% in the 2nd quarter. Legal & General Group Plc now owns 4,095 shares of the company’s stock worth $87,000 after purchasing an additional 1,976 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Funko by 144.8% in the 2nd quarter. Citigroup Inc. now owns 4,439 shares of the company’s stock worth $94,000 after purchasing an additional 2,626 shares during the period. Hedge funds and other institutional investors own 66.32% of the company’s stock.

In other Funko news, CEO Brian Richard Mariotti sold 1,543 shares of the company’s stock in a transaction dated Thursday, October 14th. The shares were sold at an average price of $19.35, for a total transaction of $29,857.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Woodson Capital Management, Lp bought 181,506 shares of the stock in a transaction on Friday, August 20th. The shares were bought at an average price of $17.93 per share, for a total transaction of $3,254,402.58. The disclosure for this purchase can be found here. Insiders have sold a total of 476,508 shares of company stock worth $9,640,969 over the last three months. 14.79% of the stock is currently owned by insiders.

About Funko

Funko, Inc engages in designing, sourcing and distribution of licensed pop culture products. Its product lines include media and entertainment content, which comprises movies, TV shows, video games, music and sports. The company was founded in 1998 and is headquartered in Everett, WA.

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Earnings History and Estimates for Funko (NASDAQ:FNKO)

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