Funko (NASDAQ:FNKO) Shares Up 0.9% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO) shares shot up 0.9% during trading on Tuesday. The company traded as high as $6.59 and last traded at $6.52. 435,098 shares traded hands during trading, a decline of 57% from the average daily volume of 1,012,479 shares. The stock had previously closed at $6.46.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FNKO. DA Davidson increased their price objective on Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen raised Funko from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research report on Friday, July 17th. Zacks Research upgraded Funko to a “hold” rating in a research note on Wednesday, August 26th. Finally, Seaport Research Partners initiated coverage on Funko in a report on Monday, August 24th. They issued a “buy” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.08.

Funko Trading Up 0.9%

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.79 and a current ratio of 1.16. The firm has a market cap of $364.66 million, a PE ratio of -162.96 and a beta of 0.95. The stock’s 50 day simple moving average is $5.92 and its 200 day simple moving average is $5.32.

Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.47. The company had revenue of $207.72 million during the quarter, compared to analyst estimates of $200.96 million. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. On average, sell-side analysts forecast that Funko, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Funko

In related news, CEO Josh Simon sold 181,893 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $5.79, for a total transaction of $1,053,160.47. Following the transaction, the chief executive officer owned 151,440 shares of the company’s stock, valued at approximately $876,837.60. This trade represents a 54.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles D. Denson bought 72,992 shares of Funko stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $499,995.20. Following the acquisition, the director owned 269,084 shares in the company, valued at $1,843,225.40. The trade was a 37.22% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 228,662 shares of company stock valued at $1,363,086. Corporate insiders own 3.88% of the company’s stock.

Institutional Trading of Funko

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in Funko during the 1st quarter valued at about $137,000. SEB Asset Management AB bought a new position in Funko during the 1st quarter worth approximately $235,000. Bank of New York Mellon Corp increased its stake in Funko by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 103,125 shares of the company’s stock worth $325,000 after purchasing an additional 4,607 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Funko in the 2nd quarter worth approximately $494,000. Finally, Empowered Funds LLC increased its stake in Funko by 10.3% in the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock worth $704,000 after purchasing an additional 20,882 shares during the period. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

About Funko

Funko, Inc is a consumer products company that designs, sources and distributes licensed and proprietary pop-culture collectibles. Its best-known product is the Pop! line of stylized vinyl figures, which features characters from entertainment franchises, sports, music and other cultural properties. The company also offers action figures, plush products, apparel, accessories, games and other collectible merchandise.

Funko’s portfolio is built around licensing partnerships with major media, entertainment and consumer brands, including franchises associated with film, television, video games, comics and sports.