Funko, Inc. (NASDAQ:FNKO) Short Interest Update

Funko, Inc. (NASDAQ:FNKO) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,670,000 shares, a growth of 5.8% from the October 15th total of 3,470,000 shares. Approximately 10.7% of the company’s shares are sold short. Based on an average daily volume of 458,900 shares, the days-to-cover ratio is currently 8.0 days.

Insider Activity at Funko

In other Funko news, Director Michael C. Lunsford sold 7,361 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.02, for a total transaction of $88,479.22. Following the completion of the transaction, the director now owns 108,613 shares of the company’s stock, valued at $1,305,528.26. This trade represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $120,000.00. Following the sale, the insider now directly owns 6,362 shares in the company, valued at $76,344. This represents a 61.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,805 shares of company stock valued at $357,861. 4.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Funko during the 2nd quarter worth approximately $25,000. Paloma Partners Management Co acquired a new stake in Funko in the first quarter valued at approximately $67,000. EntryPoint Capital LLC purchased a new position in shares of Funko during the 1st quarter valued at approximately $73,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Funko during the 2nd quarter valued at approximately $121,000. Finally, Walleye Capital LLC purchased a new position in shares of Funko during the 3rd quarter valued at approximately $129,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

Funko Price Performance

Shares of NASDAQ FNKO traded down $0.04 during trading on Tuesday, hitting $10.27. 163,664 shares of the company were exchanged, compared to its average volume of 526,459. Funko has a 1 year low of $5.36 and a 1 year high of $12.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The firm’s fifty day moving average price is $11.65 and its 200 day moving average price is $10.13. The company has a market cap of $556.22 million, a price-to-earnings ratio of -21.56 and a beta of 1.21.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $16.00 target price on shares of Funko in a report on Thursday, November 14th. Stifel Nicolaus raised their target price on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, B. Riley raised their target price on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 12th.

Funko Company Profile

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.