Funko (NASDAQ:FNKO) Shares Climb 0.9% – Here’s Why

Funko, Inc. (NASDAQ:FNKO – Get Free Report)’s share price traded up 0.9% during mid-day trading on Tuesday. The stock traded as high as $6.59 and last traded at $6.52. 435,098 shares were traded during trading, a decline of 57% from the average daily volume of 1,012,479 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

FNKO has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research note on Friday, July 17th. DA Davidson increased their target price on shares of Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wall Street Zen raised Funko from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research raised Funko to a “hold” rating in a report on Wednesday, August 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $6.75 price target on shares of Funko in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.08.

Get Our Latest Stock Report on FNKO

Funko Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $5.93 and a 200-day moving average price of $5.34. The firm has a market cap of $381.45 million, a price-to-earnings ratio of -170.46 and a beta of 0.95.

Funko (NASDAQ:FNKO – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.47. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%. The firm had revenue of $207.72 million during the quarter, compared to the consensus estimate of $200.96 million. On average, analysts expect that Funko, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles Denson acquired 72,992 shares of the business’s stock in a transaction on Monday, August 24th. The stock was bought at an average price of $6.85 per share, for a total transaction of $499,995.20. Following the transaction, the director owned 269,084 shares in the company, valued at $1,843,225.40. This represents a 37.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Josh Simon sold 181,893 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $5.79, for a total transaction of $1,053,160.47. Following the completion of the sale, the chief executive officer owned 151,440 shares of the company’s stock, valued at $876,837.60. This trade represents a 54.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 228,662 shares of company stock worth $1,363,086. 3.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FNKO. Public Employees Retirement System of Ohio purchased a new stake in Funko in the 2nd quarter valued at approximately $494,000. Bank of New York Mellon Corp purchased a new position in shares of Funko during the 2nd quarter worth approximately $648,000. Empowered Funds LLC raised its stake in shares of Funko by 10.3% during the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock worth $704,000 after buying an additional 20,882 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Funko during the 1st quarter worth approximately $137,000. Finally, SEB Asset Management AB acquired a new stake in shares of Funko in the 1st quarter valued at approximately $235,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Company Profile

(Get Free Report)

Funko, Inc is a consumer products company that designs, sources and distributes licensed and proprietary pop-culture collectibles. Its best-known product is the Pop! line of stylized vinyl figures, which features characters from entertainment franchises, sports, music and other cultural properties. The company also offers action figures, plush products, apparel, accessories, games and other collectible merchandise.

Funko’s portfolio is built around licensing partnerships with major media, entertainment and consumer brands, including franchises associated with film, television, video games, comics and sports.

Further Reading

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