BidaskClub Lowers Funko (NASDAQ:FNKO) to Strong Sell

BidaskClub cut shares of Funko (NASDAQ:FNKO) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other analysts have also weighed in on FNKO. JPMorgan Chase & Co. lowered Funko from an overweight rating to an underweight rating and cut their price objective for the company from $29.00 to $9.50 in a report on Thursday, February 6th. Bank of America lowered Funko from a buy rating to an underperform rating and lowered their price objective for the company from $29.00 to $10.00 in a report on Thursday, February 6th. DA Davidson lowered Funko from a buy rating to a neutral rating and lowered their target price for the company from $35.00 to $11.00 in a report on Thursday, February 6th. Zacks Investment Research cut Funko from a hold rating to a strong sell rating in a report on Monday. Finally, Stifel Nicolaus cut Funko from a buy rating to a hold rating and lowered their target price for the company from $25.00 to $10.00 in a research note on Friday, February 7th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $13.45.

FNKO traded up $0.31 during trading on Tuesday, reaching $9.75. 41,539 shares of the company were exchanged, compared to its average volume of 1,322,106. The stock has a market cap of $423.99 million, a P/E ratio of 13.47, a PEG ratio of 0.56 and a beta of 1.89. The firm has a 50 day moving average of $14.77 and a 200 day moving average of $18.16. The company has a current ratio of 1.72, a quick ratio of 1.15 and a debt-to-equity ratio of 0.88. Funko has a 52 week low of $8.29 and a 52 week high of $27.89.

In other Funko news, Director Charles D. Denson purchased 36,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $13.84 per share, with a total value of $498,240.00. Following the completion of the purchase, the director now directly owns 94,900 shares of the company’s stock, valued at approximately $1,313,416. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.26% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in Funko by 2,990.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,281,161 shares of the company’s stock worth $26,360,000 after purchasing an additional 1,239,709 shares during the period. Millennium Management LLC lifted its position in Funko by 221.3% during the third quarter. Millennium Management LLC now owns 854,917 shares of the company’s stock valued at $17,589,000 after purchasing an additional 588,798 shares during the period. Sepio Capital LLC lifted its position in Funko by 171.2% during the fourth quarter. Sepio Capital LLC now owns 685,392 shares of the company’s stock valued at $11,761,000 after purchasing an additional 432,654 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Funko in the fourth quarter worth approximately $6,301,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Funko in the fourth quarter worth approximately $6,006,000. Institutional investors own 63.16% of the company’s stock.

About Funko

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, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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Analyst Recommendations for Funko (NASDAQ:FNKO)

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