Funko (NASDAQ:FNKO) Stock Price Up 0.9% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO) traded up 0.9% during trading on Tuesday. The stock traded as high as $6.59 and last traded at $6.52. 435,098 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,012,479 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

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

Funko Trading Up 0.9%

The firm has a market cap of $364.66 million, a PE ratio of -162.96 and a beta of 0.95. The firm has a fifty day simple moving average of $5.92 and a two-hundred day simple moving average of $5.32. 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 posted its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share (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 firm had revenue of $207.72 million for the quarter, compared to analysts’ expectations of $200.96 million. Equities analysts forecast that Funko, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Funko news, CEO Josh Simon sold 181,893 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $5.79, for a total transaction of $1,053,160.47. Following the transaction, the chief executive officer directly owned 151,440 shares of the company’s stock, valued at approximately $876,837.60. The trade was a 54.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles D. Denson acquired 72,992 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was bought at an average price of $6.85 per share, with a total value of $499,995.20. Following the completion of the acquisition, the director directly owned 269,084 shares in the company, valued at approximately $1,843,225.40. This represents a 37.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 228,662 shares of company stock valued at $1,363,086 over the last quarter. 3.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Funko

A number of large investors have recently modified their holdings of FNKO. SG Americas Securities LLC increased its position in shares of Funko by 2,249.0% during the first 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 during the period. Bank of New York Mellon Corp purchased a new stake in Funko in the second quarter worth about $648,000. Public Employees Retirement System of Ohio bought a new stake in Funko during the 2nd quarter valued at approximately $494,000. SEB Asset Management AB bought a new stake in Funko during the 1st quarter valued at approximately $235,000. Finally, Renaissance Technologies LLC bought a new stake in Funko during the 1st quarter valued at approximately $137,000. Institutional investors own 99.15% of the company’s stock.

About Funko

Funko, Inc is a consumer products company that designs, sources and distributes licensed and proprietary pop-culture collectibles. Its best-known product is the Pop! line of stylized vinyl figures, which features characters from entertainment franchises, sports, music and other cultural properties. The company also offers action figures, plush products, apparel, accessories, games and other collectible merchandise.

Funko’s portfolio is built around licensing partnerships with major media, entertainment and consumer brands, including franchises associated with film, television, video games, comics and sports.