Analysts Set Funko, Inc. (NASDAQ:FNKO) Price Target at $7.08

Funko, Inc. (NASDAQ:FNKO) has been assigned an average rating of “Hold” from the four research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.0833.

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Funko from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Funko in a report on Monday, August 10th. Zacks Research upgraded shares of Funko to a “hold” rating in a research report on Wednesday, August 26th. Finally, DA Davidson boosted their price target on Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 7th.

Insider Buying and Selling at Funko

In other news, CFO Pendeven Le sold 35,907 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $6.51, for a total value of $233,754.57. Following the completion of the transaction, the chief financial officer owned 35,907 shares in the company, valued at $233,754.57. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles D. Denson purchased 72,992 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was purchased at an average price of $6.85 per share, with a total value of $499,995.20. Following the transaction, the director owned 269,084 shares of the company’s stock, valued at approximately $1,843,225.40. This represents a 37.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 46,769 shares of company stock valued at $309,926. 3.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Funko

Several hedge funds have recently added to or reduced their stakes in FNKO. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Funko by 850,199.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,401,196 shares of the company’s stock valued at $11,564,000 after purchasing an additional 3,400,796 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Funko by 5,627.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 900,360 shares of the company’s stock valued at $4,286,000 after buying an additional 884,639 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Funko by 434.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 946,845 shares of the company’s stock valued at $3,219,000 after buying an additional 769,648 shares in the last quarter. Fund 1 Investments LLC grew its holdings in Funko by 13.4% during the 3rd quarter. Fund 1 Investments LLC now owns 5,413,887 shares of the company’s stock valued at $18,624,000 after buying an additional 640,000 shares during the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in Funko during the 2nd quarter valued at $2,428,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Funko Stock Performance

Shares of FNKO stock opened at $5.69 on Friday. The company has a market cap of $318.24 million, a price-to-earnings ratio of -142.21 and a beta of 0.94. The stock has a 50 day simple moving average of $5.95 and a 200-day simple moving average of $5.03. Funko has a 12-month low of $2.72 and a 12-month high of $7.35. 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 announced its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $207.72 million for the quarter, compared to analyst estimates of $200.96 million. On average, equities analysts forecast that Funko will post 0.34 EPS for the current year.

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.