Funko (NASDAQ:FNKO) Shares Gap Down – What’s Next?

Funko, Inc. (NASDAQ:FNKO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $11.83, but opened at $11.58. Funko shares last traded at $11.61, with a volume of 11,057 shares trading hands.

Analyst Ratings Changes

FNKO has been the topic of a number of recent research reports. B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Stifel Nicolaus increased their price objective on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th.

Funko Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. The firm has a market capitalization of $646.13 million, a P/E ratio of -24.19 and a beta of 1.22. The company has a 50-day moving average price of $11.61 and a 200-day moving average price of $10.41.

Insider Transactions at Funko

In other Funko news, Director Michael C. Lunsford sold 97,000 shares of Funko stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $10.40, for a total value of $1,008,800.00. Following the sale, the director now owns 11,613 shares of the company’s stock, valued at $120,775.20. This trade represents a 89.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew David Oddie sold 10,800 shares of Funko stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $12.03, for a total value of $129,924.00. Following the completion of the sale, the insider now directly owns 40,372 shares in the company, valued at $485,675.16. This represents a 21.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,805 shares of company stock worth $1,366,661 in the last three months. Insiders own 4.81% of the company’s stock.

Institutional Trading of Funko

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Funko by 4.5% in the first quarter. California State Teachers Retirement System now owns 33,179 shares of the company’s stock valued at $207,000 after acquiring an additional 1,414 shares during the last quarter. Quest Partners LLC acquired a new position in Funko during the second quarter worth approximately $25,000. Price T Rowe Associates Inc. MD increased its position in Funko by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company’s stock worth $246,000 after buying an additional 2,689 shares during the last quarter. Rhumbline Advisers increased its position in Funko by 9.0% during the second quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock worth $529,000 after buying an additional 4,475 shares during the last quarter. Finally, Olympiad Research LP increased its position in Funko by 40.3% during the third quarter. Olympiad Research LP now owns 23,532 shares of the company’s stock worth $288,000 after buying an additional 6,756 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.