Cubist Systematic Strategies LLC Decreases Position in Funko, Inc. (NASDAQ:FNKO)

Cubist Systematic Strategies LLC cut its holdings in Funko, Inc. (NASDAQ:FNKO) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,584 shares of the company’s stock after selling 6,354 shares during the period. Cubist Systematic Strategies LLC’s holdings in Funko were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FNKO. Quest Partners LLC bought a new stake in shares of Funko in the 2nd quarter valued at about $25,000. Quarry LP bought a new stake in Funko in the fourth quarter valued at approximately $34,000. Paloma Partners Management Co purchased a new stake in shares of Funko during the first quarter valued at approximately $67,000. EntryPoint Capital LLC bought a new position in shares of Funko in the first quarter worth approximately $73,000. Finally, Virtu Financial LLC bought a new stake in Funko during the 4th quarter valued at $177,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Funko Stock Performance

Shares of FNKO opened at $12.45 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $667.31 million, a P/E ratio of -4.96 and a beta of 1.20. The business’s 50 day moving average price is $10.56 and its 200-day moving average price is $8.93. Funko, Inc. has a 52 week low of $5.36 and a 52 week high of $12.61.

Funko (NASDAQ:FNKO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.25. The firm had revenue of $247.70 million during the quarter, compared to analyst estimates of $231.04 million. Funko had a negative return on equity of 4.69% and a negative net margin of 4.06%. Funko’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.53) EPS. Equities research analysts anticipate that Funko, Inc. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other Funko news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total transaction of $17,800,000.00. Following the sale, the insider now directly owns 5,129,838 shares in the company, valued at approximately $45,655,558.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Michael C. Lunsford sold 7,361 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total transaction of $88,479.22. Following the completion of the sale, the director now owns 108,613 shares in the company, valued at approximately $1,305,528.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total transaction of $17,800,000.00. Following the sale, the insider now owns 5,129,838 shares of the company’s stock, valued at $45,655,558.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,035,805 shares of company stock worth $18,215,169 over the last 90 days. 4.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FNKO has been the topic of a number of analyst reports. DA Davidson restated a “buy” rating and issued a $12.00 price objective on shares of Funko in a research report on Friday, August 9th. B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus boosted their target price on Funko from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Thursday, July 25th.

Funko 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.