Funko (NASDAQ:FNKO) Trading Down 0.3% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO)’s share price traded down 0.3% during trading on Monday . The company traded as low as $2.97 and last traded at $3.00. 1,107,258 shares were traded during trading, an increase of 17% from the average session volume of 942,938 shares. The stock had previously closed at $3.01.

Wall Street Analysts Forecast Growth

FNKO has been the topic of several research reports. Wall Street Zen upgraded Funko from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. The Goldman Sachs Group decreased their price objective on Funko from $5.50 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Funko in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Funko currently has an average rating of “Hold” and a consensus target price of $7.17.

Funko Stock Down 0.3%

The business has a 50 day simple moving average of $3.14 and a 200-day simple moving average of $3.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 0.66. The firm has a market capitalization of $166.17 million, a price-to-earnings ratio of -2.36 and a beta of 0.59.

Funko (NASDAQ:FNKO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. Funko had a negative net margin of 7.39% and a negative return on equity of 23.66%. The firm had revenue of $250.91 million during the quarter, compared to analyst estimates of $264.94 million. On average, equities analysts expect that Funko, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Funko

Several large investors have recently modified their holdings of the business. Hosking Partners LLP purchased a new position in shares of Funko during the 3rd quarter worth $4,853,000. JPMorgan Chase & Co. lifted its position in Funko by 5,627.1% in the second quarter. JPMorgan Chase & Co. now owns 900,360 shares of the company’s stock valued at $4,286,000 after buying an additional 884,639 shares during the last quarter. Fund 1 Investments LLC boosted its stake in Funko by 13.4% during the third quarter. Fund 1 Investments LLC now owns 5,413,887 shares of the company’s stock worth $18,624,000 after buying an additional 640,000 shares during the period. Manatuck Hill Partners LLC purchased a new position in Funko during the second quarter worth about $2,428,000. Finally, Millennium Management LLC acquired a new stake in shares of Funko during the third quarter valued at about $1,352,000. Institutional investors and hedge funds 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.