Funko (NASDAQ:FNKO) Reaches New 12-Month High Following Analyst Upgrade

Funko, Inc. (NASDAQ:FNKO)’s stock price reached a new 52-week high during mid-day trading on Thursday after B. Riley raised their price target on the stock from $13.00 to $15.00. B. Riley currently has a buy rating on the stock. Funko traded as high as $11.19 and last traded at $11.09, with a volume of 102005 shares trading hands. The stock had previously closed at $10.25.

A number of other research analysts have also issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $12.00 target price on shares of Funko in a report on Friday, August 9th. Stifel Nicolaus raised their price target on Funko from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Thursday, July 25th.

Insider Transactions at Funko

In other news, Director Michael C. Lunsford sold 5,900 shares of Funko stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $9.55, for a total transaction of $56,345.00. Following the sale, the director now owns 98,974 shares in the company, valued at $945,201.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total value of $17,800,000.00. Following the transaction, the insider now owns 5,129,838 shares in the company, valued at approximately $45,655,558.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael C. Lunsford sold 5,900 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $9.55, for a total value of $56,345.00. Following the completion of the transaction, the director now owns 98,974 shares in the company, valued at approximately $945,201.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,026,000 shares of company stock worth $18,043,908. Corporate insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

A number of institutional investors have recently added to or reduced their stakes in FNKO. Assenagon Asset Management S.A. purchased a new stake in Funko in the 2nd quarter valued at approximately $6,996,000. Marshall Wace LLP boosted its stake in shares of Funko by 160.1% during the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock worth $10,375,000 after acquiring an additional 654,359 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Funko by 21.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after acquiring an additional 619,114 shares in the last quarter. Working Capital Advisors UK Ltd. boosted its stake in shares of Funko by 4.6% during the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,129,838 shares of the company’s stock worth $55,114,000 after acquiring an additional 310,639 shares in the last quarter. Finally, Bayberry Capital Partners LP boosted its stake in shares of Funko by 48.1% during the 4th quarter. Bayberry Capital Partners LP now owns 948,000 shares of the company’s stock worth $7,328,000 after acquiring an additional 308,000 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. The firm has a market cap of $637.57 million, a PE ratio of -4.71 and a beta of 1.18. The company has a 50 day moving average price of $9.75 and a 200 day moving average price of $8.31.

Funko (NASDAQ:FNKO) last issued its quarterly earnings data 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. Funko had a negative return on equity of 4.69% and a negative net margin of 4.06%. The firm had revenue of $247.70 million during the quarter, compared to the consensus estimate of $231.04 million. During the same period in the previous year, the firm posted ($0.53) EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Funko, Inc. will post -0.21 EPS for the current year.

About Funko

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.