Funko (NASDAQ:FNKO) Trading Down 0.7% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO)’s stock price fell 0.7% on Friday . The stock traded as low as $5.31 and last traded at $5.38. 610,906 shares were traded during mid-day trading, an increase of 1% from the average session volume of 605,755 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Funko from $4.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Funko in a research note on Tuesday, April 21st. Finally, Truist Financial set a $6.50 target price on Funko in a research note on Friday, March 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Funko Stock Performance

The firm has a market capitalization of $300.90 million, a price-to-earnings ratio of -5.12 and a beta of 0.91. The company has a fifty day moving average of $4.67 and a two-hundred day moving average of $4.05. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.78 and a current ratio of 1.15.

Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.23. The business had revenue of $200.92 million during the quarter, compared to analysts’ expectations of $188.60 million. Funko had a negative return on equity of 21.03% and a negative net margin of 6.30%.

Insider Activity at Funko

In related news, insider Tracy D. Daw sold 12,793 shares of Funko stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $3.65, for a total transaction of $46,694.45. Following the completion of the sale, the insider directly owned 47,016 shares of the company’s stock, valued at approximately $171,608.40. This trade represents a 21.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew David Oddie sold 34,656 shares of Funko stock in a transaction on Friday, May 8th. The shares were sold at an average price of $6.00, for a total value of $207,936.00. Following the completion of the transaction, the insider directly owned 34,657 shares of the company’s stock, valued at $207,942. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 60,182 shares of company stock valued at $302,028. 3.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Funko

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Funko during the 4th quarter worth $37,000. Boothbay Fund Management LLC bought a new stake in Funko during the 4th quarter worth $63,000. Engineers Gate Manager LP bought a new stake in Funko during the 4th quarter worth $82,000. Brown Brothers Harriman & Co. bought a new stake in Funko during the 3rd quarter worth $86,000. Finally, Odyssean LLC bought a new stake in Funko during the 4th quarter worth $98,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

Funko Company Profile

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.