First Mercantile Trust Co. Invests $210,000 in Funko Inc (NASDAQ:FNKO)

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First Mercantile Trust Co. acquired a new position in shares of Funko Inc (NASDAQ:FNKO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,212 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in Funko during the second quarter worth $31,000. Freestone Capital Holdings LLC acquired a new position in Funko during the second quarter worth $7,293,000. Bank of Montreal Can boosted its stake in Funko by 7,766.7% during the second quarter. Bank of Montreal Can now owns 1,416 shares of the company’s stock worth $34,000 after buying an additional 1,398 shares during the last quarter. Royal Bank of Canada acquired a new position in Funko during the second quarter worth $62,000. Finally, Meeder Asset Management Inc. acquired a new position in Funko during the third quarter worth $81,000. 52.02% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on FNKO shares. Stifel Nicolaus set a $25.00 price objective on Funko and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Jaffray Companies set a $30.00 price objective on Funko and gave the stock a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research lowered Funko from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. DA Davidson dropped coverage on Funko in a research note on Friday, November 1st. They set a $32.00 price objective on the stock. Finally, BMO Capital Markets lowered their price objective on Funko from $22.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Funko currently has an average rating of “Buy” and a consensus target price of $27.44.

NASDAQ:FNKO opened at $14.25 on Friday. The stock’s fifty day moving average is $18.60 and its two-hundred day moving average is $21.49. The company has a market capitalization of $717.28 million, a P/E ratio of 20.96, a P/E/G ratio of 0.71 and a beta of 2.00. Funko Inc has a 52 week low of $11.22 and a 52 week high of $27.89. The company has a quick ratio of 1.15, a current ratio of 1.72 and a debt-to-equity ratio of 0.88.

Funko (NASDAQ:FNKO) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The business had revenue of $223.31 million during the quarter, compared to analysts’ expectations of $220.44 million. Funko had a return on equity of 17.93% and a net margin of 2.69%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. Sell-side analysts anticipate that Funko Inc will post 1.02 earnings per share for the current fiscal year.

In related news, President Andrew Mark Perlmutter sold 56,250 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.61, for a total value of $1,159,312.50. Also, Director Adam M. Kriger sold 3,600,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.42, for a total value of $91,512,000.00. Over the last ninety days, insiders have sold 4,471,642 shares of company stock valued at $112,252,374. Insiders own 16.26% of the company’s stock.

Funko Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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Institutional Ownership by Quarter for Funko (NASDAQ:FNKO)

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