Funko (NASDAQ:FNKO) Shares Down 5.8%

Funko, Inc. (NASDAQ:FNKO)’s share price was down 5.8% on Thursday . The stock traded as low as $9.64 and last traded at $9.64. Approximately 94,181 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 527,119 shares. The stock had previously closed at $10.23.

Analysts Set New Price Targets

Several brokerages have recently commented on FNKO. B. Riley raised their target price on Funko from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. DA Davidson reissued a “buy” rating and issued a $12.00 price objective on shares of Funko in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on Funko from $8.00 to $9.00 and gave the company a “hold” rating in a report on Thursday, July 25th.

Funko Trading Down 1.0 %

The stock has a market capitalization of $515.09 million, a price-to-earnings ratio of -3.83 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $9.61 and a two-hundred day moving average of $8.17.

Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.25. Funko had a negative net margin of 4.06% and a negative return on equity of 4.69%. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $231.04 million. During the same quarter last year, the firm posted ($0.53) EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Funko, Inc. will post -0.21 EPS for the current year.

Insider Activity

In other news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total value of $17,800,000.00. Following the completion of the transaction, the insider now owns 5,129,838 shares in the company, valued at approximately $45,655,558.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total value of $17,800,000.00. Following the completion of the transaction, the insider now directly owns 5,129,838 shares of the company’s stock, valued at approximately $45,655,558.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $186,600.00. Following the sale, the insider now directly owns 16,362 shares in the company, valued at approximately $152,657.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,044,014 shares of company stock worth $18,225,902. Company insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Funko in the second quarter valued at approximately $6,996,000. Marshall Wace LLP boosted its position in shares of Funko by 160.1% in the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock worth $10,375,000 after purchasing an additional 654,359 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Funko by 21.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after purchasing an additional 619,114 shares during the period. Working Capital Advisors UK Ltd. increased its holdings in Funko by 4.6% in the fourth quarter. Working Capital Advisors UK Ltd. now owns 7,129,838 shares of the company’s stock valued at $55,114,000 after purchasing an additional 310,639 shares during the last quarter. Finally, Bayberry Capital Partners LP lifted its stake in Funko by 48.1% in the fourth quarter. Bayberry Capital Partners LP now owns 948,000 shares of the company’s stock valued at $7,328,000 after buying an additional 308,000 shares during the period. 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.