Funko (NASDAQ:FNKO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Funko (NASDAQ:FNKO) to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other brokerages have also weighed in on FNKO. Seaport Research Partners started coverage on shares of Funko in a report on Monday. They set a “buy” rating and a $8.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research report on Friday, July 17th. DA Davidson boosted their price objective on shares of Funko from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $6.75 price objective on shares of Funko in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of Funko from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.08.

Funko Trading Up 5.6%

NASDAQ:FNKO opened at $6.74 on Wednesday. The stock has a market cap of $376.97 million, a price-to-earnings ratio of -168.46 and a beta of 0.93. Funko has a one year low of $2.72 and a one year high of $7.04. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.79 and a current ratio of 1.16. The business’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $4.94.

Funko (NASDAQ:FNKO) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.47. The company had revenue of $207.72 million for the quarter, compared to the consensus estimate of $200.96 million. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%. As a group, sell-side analysts predict that Funko will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Funko

In other news, Director Charles D. Denson bought 72,992 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $6.85 per share, with a total value of $499,995.20. Following the completion of the purchase, the director directly owned 269,084 shares of the company’s stock, valued at $1,843,225.40. This represents a 37.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Funko

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC acquired a new stake in Funko in the 4th quarter valued at about $63,000. Engineers Gate Manager LP bought a new position in shares of Funko in the fourth quarter valued at $82,000. Brown Brothers Harriman & Co. acquired a new position in shares of Funko in the 3rd quarter worth $86,000. Odyssean LLC acquired a new stake in shares of Funko during the fourth quarter worth $98,000. Finally, Jain Global LLC purchased a new stake in shares of Funko during the fourth quarter valued at $123,000. 99.15% of the stock is currently owned by institutional investors.

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.