Josh Simon Sells 181,893 Shares of Funko (NASDAQ:FNKO) Stock

Funko, Inc. (NASDAQ:FNKO) CEO Josh Simon sold 181,893 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $5.79, for a total transaction of $1,053,160.47. Following the completion of the sale, the chief executive officer owned 151,440 shares of the company’s stock, valued at $876,837.60. The trade was a 54.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Funko Price Performance

Shares of NASDAQ FNKO opened at $5.68 on Friday. The firm’s 50-day moving average price is $5.95 and its 200-day moving average price is $5.04. Funko, Inc. has a 1-year low of $2.72 and a 1-year high of $7.35. The firm has a market capitalization of $317.68 million, a P/E ratio of -141.96 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.79 and a debt-to-equity ratio of 0.97.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, August 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.47. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%.The company had revenue of $207.72 million during the quarter, compared to the consensus estimate of $200.96 million. Equities research analysts anticipate that Funko, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Funko

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in Funko by 1.9% during the 4th quarter. Invesco Ltd. now owns 143,809 shares of the company’s stock valued at $489,000 after acquiring an additional 2,717 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Funko by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 119,879 shares of the company’s stock worth $408,000 after acquiring an additional 2,930 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Funko by 8.1% in the second quarter. Rhumbline Advisers now owns 49,431 shares of the company’s stock valued at $235,000 after purchasing an additional 3,697 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Funko by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 103,125 shares of the company’s stock valued at $325,000 after purchasing an additional 4,607 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Funko by 14.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,276 shares of the company’s stock valued at $175,000 after purchasing an additional 6,500 shares in the last quarter. 99.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FNKO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Funko in a research report on Friday, July 17th. Zacks Research upgraded shares of Funko to a “hold” rating in a research note on Wednesday, August 26th. DA Davidson upped their price objective on shares of Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seaport Research Partners started coverage on shares of Funko in a research note on Monday, August 24th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $6.75 target price on shares of Funko in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Funko presently has an average rating of “Hold” and an average target price of $7.08.

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.