Graham Capital Management L.P. Acquires 96,347 Shares of Funko, Inc. $FNKO

Graham Capital Management L.P. increased its holdings in shares of Funko, Inc. (NASDAQ:FNKO) by 242.2% during the first quarter, Holdings Channel.com reports. The fund owned 136,125 shares of the company’s stock after purchasing an additional 96,347 shares during the quarter. Graham Capital Management L.P.’s holdings in Funko were worth $934,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Caption Management LLC bought a new position in Funko during the first quarter worth about $520,000. Vident Advisory LLC increased its holdings in Funko by 27.4% in the 1st quarter. Vident Advisory LLC now owns 50,757 shares of the company’s stock valued at $348,000 after buying an additional 10,924 shares during the period. Trexquant Investment LP increased its holdings in Funko by 116.0% in the 1st quarter. Trexquant Investment LP now owns 29,724 shares of the company’s stock valued at $204,000 after buying an additional 15,966 shares during the period. AlphaQuest LLC increased its holdings in Funko by 202.1% in the 1st quarter. AlphaQuest LLC now owns 42,758 shares of the company’s stock valued at $293,000 after buying an additional 28,604 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Funko in the 1st quarter valued at about $212,000. 99.15% of the stock is owned by institutional investors.

Funko Trading Down 0.9%

FNKO opened at $3.22 on Thursday. The company’s 50 day moving average is $3.86 and its 200-day moving average is $5.41. Funko, Inc. has a 1-year low of $2.22 and a 1-year high of $14.65. The company has a current ratio of 0.64, a quick ratio of 0.41 and a debt-to-equity ratio of 0.02. The company has a market cap of $178.29 million, a P/E ratio of -2.66 and a beta of 0.81.

Funko (NASDAQ:FNKO) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.30). Funko had a negative net margin of 6.72% and a negative return on equity of 19.97%. The company had revenue of $193.47 million during the quarter, compared to analyst estimates of $206.18 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. Equities research analysts predict that Funko, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FNKO shares. DA Davidson reissued a “buy” rating and issued a $7.00 target price on shares of Funko in a report on Monday, July 28th. The Goldman Sachs Group decreased their target price on shares of Funko from $5.50 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Funko from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Funko currently has an average rating of “Moderate Buy” and an average price target of $9.13.

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.