Insider Selling: Funko (NASDAQ:FNKO) CEO Sells 181,893 Shares of Stock

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

Funko Price Performance

Shares of FNKO traded down $0.01 during trading hours on Friday, reaching $5.68. 858,535 shares of the company traded hands, compared to its average volume of 975,770. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $317.68 million, a PE ratio of -141.96 and a beta of 0.94. Funko, Inc. has a fifty-two week low of $2.72 and a fifty-two week high of $7.35. The stock has a fifty day simple moving average of $5.95 and a 200 day simple moving average of $5.03.

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

Hedge Funds Weigh In On Funko

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on FNKO shares. Wall Street Zen raised shares of Funko from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Seaport Research Partners initiated coverage on Funko in a report on Monday, August 24th. They issued a “buy” rating and a $8.00 price target for the company. DA Davidson increased 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. The Goldman Sachs Group restated a “neutral” rating and set a $6.75 price objective on shares of Funko in a report on Monday, August 10th. Finally, Zacks Research raised Funko to a “hold” rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.08.

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.