California Public Employees Retirement System lessened its holdings in shares of Funko Inc (NASDAQ:FNKO) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,200 shares of the company’s stock after selling 34,200 shares during the quarter. California Public Employees Retirement System owned 0.71% of Funko worth $4,282,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Engineers Gate Manager LP increased its stake in Funko by 79.1% during the 2nd quarter. Engineers Gate Manager LP now owns 25,760 shares of the company’s stock valued at $323,000 after purchasing an additional 11,380 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Funko in the 1st quarter worth $189,000. Feinberg Stephen bought a new stake in shares of Funko in the 2nd quarter worth $2,242,000. EAM Investors LLC bought a new stake in shares of Funko in the 2nd quarter worth $1,241,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Funko in the 2nd quarter worth $899,000. Institutional investors and hedge funds own 37.57% of the company’s stock.
Several research firms have recently issued reports on FNKO. Stifel Nicolaus upped their target price on shares of Funko from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research lowered shares of Funko from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Funko from $14.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $23.00 target price on shares of Funko in a research note on Friday, August 10th. Finally, Piper Jaffray Companies set a $24.00 target price on shares of Funko and gave the stock a “buy” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Funko has a consensus rating of “Buy” and an average target price of $18.72.
Shares of NASDAQ:FNKO opened at $18.22 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $919.53 million and a P/E ratio of 60.73. Funko Inc has a fifty-two week low of $5.81 and a fifty-two week high of $31.12.
Funko (NASDAQ:FNKO) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $138.70 million for the quarter, compared to the consensus estimate of $122.54 million. Funko had a net margin of 2.70% and a return on equity of 9.68%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, analysts expect that Funko Inc will post 0.69 EPS for the current year.
Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.
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