Funko (NASDAQ:FNKO) Stock Rating Upgraded by The Goldman Sachs Group

Funko (NASDAQ:FNKO) was upgraded by stock analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat reports. The firm presently has a $5.50 target price on the stock, down from their previous target price of $7.00. The Goldman Sachs Group’s price target points to a potential upside of 29.72% from the company’s previous close.

Separately, DA Davidson lowered their price target on Funko from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 9th.

Funko Stock Down 9.6%

NASDAQ FNKO opened at $4.24 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. The company has a market capitalization of $231.23 million, a P/E ratio of -8.83 and a beta of 0.85. Funko has a one year low of $3.50 and a one year high of $14.65. The stock has a 50 day moving average price of $5.34 and a 200-day moving average price of $9.97.

Funko (NASDAQ:FNKO) last posted its earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.10. The firm had revenue of $190.74 million during the quarter, compared to the consensus estimate of $191.96 million. Funko had a negative return on equity of 3.44% and a negative net margin of 2.29%. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. As a group, equities analysts predict that Funko will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Funko news, insider Tracy D. Daw sold 18,608 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total value of $132,861.12. Following the sale, the insider now owns 26,332 shares in the company, valued at $188,010.48. This trade represents a 41.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew David Oddie sold 9,580 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.96, for a total value of $47,516.80. Following the completion of the sale, the insider now owns 52,203 shares in the company, valued at approximately $258,926.88. The trade was a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,344 shares of company stock worth $287,246 over the last quarter. Company insiders own 4.81% of the company’s stock.

Institutional Trading of Funko

A number of hedge funds and other institutional investors have recently bought and sold shares of FNKO. New York State Teachers Retirement System purchased a new stake in Funko in the fourth quarter worth $38,000. Intech Investment Management LLC purchased a new position in shares of Funko during the fourth quarter valued at $148,000. Hsbc Holdings PLC purchased a new position in shares of Funko during the fourth quarter valued at $152,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Funko during the fourth quarter valued at $183,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Funko by 15.1% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 27,429 shares of the company’s stock valued at $188,000 after buying an additional 3,603 shares during the period. Hedge funds and other institutional investors own 99.15% 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, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.