Wall Street Zen upgraded shares of Funko (NASDAQ:FNKO – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.
Several other brokerages also recently commented on FNKO. The Goldman Sachs Group restated a “neutral” rating and issued a $6.75 price objective on shares of Funko in a research report on Monday, August 10th. DA Davidson increased their target price on Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Funko in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.08.
Funko Stock Down 0.8%
Funko (NASDAQ:FNKO – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.47. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. The company had revenue of $207.72 million for the quarter, compared to analysts’ expectations of $200.96 million.
Institutional Investors Weigh In On Funko
A number of hedge funds have recently bought and sold shares of FNKO. Public Employees Retirement System of Ohio bought a new position in Funko during the second quarter valued at $494,000. Bank of New York Mellon Corp purchased a new position in shares of Funko during the 2nd quarter worth about $648,000. Empowered Funds LLC grew its holdings in Funko by 10.3% during the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock valued at $704,000 after purchasing an additional 20,882 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Funko in the 1st quarter worth about $137,000. Finally, SEB Asset Management AB purchased a new stake in Funko in the 1st quarter worth about $235,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.
About Funko
Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.
Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.
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