Funko (NASDAQ:FNKO) Hits New 1-Year High at $12.10

Funko, Inc. (NASDAQ:FNKO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $12.10 and last traded at $12.02, with a volume of 441279 shares changing hands. The stock had previously closed at $11.64.

Analysts Set New Price Targets

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

Funko Trading Up 3.0 %

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 firm has a market cap of $642.65 million, a price-to-earnings ratio of -4.64 and a beta of 1.18. The business’s fifty day moving average is $9.92 and its two-hundred day moving average is $8.50.

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

Insider Activity at Funko

In other Funko news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of Funko stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total value 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were 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 document filed with the SEC, which can be accessed through this link. Also, insider Tracy D. Daw sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $9.33, for a total transaction of $186,600.00. Following the completion of the sale, the insider now directly owns 16,362 shares of the company’s stock, valued at approximately $152,657.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,037,644 shares of company stock valued at $18,183,366. 4.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Funko

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Working Capital Advisors UK Ltd. increased its position in Funko by 4.6% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,129,838 shares of the company’s stock valued at $55,114,000 after acquiring an additional 310,639 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Funko by 21.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock valued at $34,609,000 after purchasing an additional 619,114 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Funko by 160.1% during the second quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after buying an additional 654,359 shares during the last quarter. Bayberry Capital Partners LP grew its holdings in shares of Funko by 48.1% during the fourth quarter. Bayberry Capital Partners LP now owns 948,000 shares of the company’s stock valued at $7,328,000 after buying an additional 308,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Funko during the second quarter valued at about $6,996,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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.