Assenagon Asset Management S.A. cut its stake in Funko, Inc. (NASDAQ:FNKO – Free Report) by 72.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,332 shares of the company’s stock after selling 310,908 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Funko were worth $370,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of FNKO. Invesco Ltd. boosted its holdings in Funko by 1.9% in the fourth quarter. Invesco Ltd. now owns 143,809 shares of the company’s stock valued at $489,000 after purchasing an additional 2,717 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Funko by 2.5% during the 4th quarter. Russell Investments Group Ltd. now owns 119,879 shares of the company’s stock worth $408,000 after purchasing an additional 2,930 shares during the last quarter. Rhumbline Advisers raised its position in shares of Funko by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 49,431 shares of the company’s stock valued at $235,000 after purchasing an additional 3,697 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Funko by 14.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,276 shares of the company’s stock valued at $175,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Caption Management LLC boosted its stake in shares of Funko by 8.8% during the 2nd quarter. Caption Management LLC now owns 82,500 shares of the company’s stock valued at $393,000 after buying an additional 6,676 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on FNKO. Truist Financial set a $6.50 price target on shares of Funko in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Funko in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Funko from $4.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Funko currently has an average rating of “Hold” and a consensus target price of $6.50.
Insiders Place Their Bets
In related news, insider Andrew David Oddie sold 34,656 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $6.00, for a total value of $207,936.00. Following the completion of the transaction, the insider owned 34,657 shares in the company, valued at $207,942. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.27% of the stock is owned by insiders.
Funko Price Performance
Shares of Funko stock opened at $5.51 on Friday. The business’s fifty day moving average price is $5.18 and its two-hundred day moving average price is $4.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.15 and a quick ratio of 0.78. The company has a market capitalization of $308.17 million, a P/E ratio of -5.25 and a beta of 0.92. Funko, Inc. has a 1-year low of $2.22 and a 1-year high of $6.09.
Funko (NASDAQ:FNKO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.23. The company had revenue of $200.92 million during the quarter, compared to analysts’ expectations of $188.60 million. Funko had a negative return on equity of 21.03% and a negative net margin of 6.30%.
Funko Profile
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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