Funko (NASDAQ:FNKO) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Funko (NASDAQ:FNKO) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other research firms have also issued reports on FNKO. The Goldman Sachs Group restated a “neutral” rating and issued a $6.75 price target on shares of Funko in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Funko in a research report on Friday, July 17th. Finally, DA Davidson increased their target price on shares of Funko from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.08.

Funko Stock Up 2.7%

FNKO opened at $6.14 on Friday. The business has a 50 day moving average of $5.67 and a 200-day moving average of $4.79. The stock has a market capitalization of $343.41 million, a price-to-earnings ratio of -153.46 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. Funko has a 1-year low of $2.59 and a 1-year high of $7.04.

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 analysts’ consensus estimates of ($0.21) by $0.47. The business had revenue of $207.72 million for 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%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Funko in the second quarter worth $648,000. Empowered Funds LLC increased its holdings in Funko by 10.3% in the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock valued at $704,000 after buying an additional 20,882 shares during the period. Renaissance Technologies LLC bought a new stake in Funko in the 1st quarter valued at $137,000. SEB Asset Management AB bought a new stake in Funko in the 1st quarter valued at $235,000. Finally, SG Americas Securities LLC raised its stake in shares of Funko by 2,249.0% in the 1st quarter. SG Americas Securities LLC now owns 258,597 shares of the company’s stock valued at $815,000 after buying an additional 247,588 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.

About Funko

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.