Funko (NASDAQ:FNKO) Reaches New 52-Week High – Here’s Why

Funko, Inc. (NASDAQ:FNKO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.89 and last traded at $13.39, with a volume of 1444865 shares. The stock had previously closed at $13.65.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th. Finally, B. Riley raised their price objective 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 Stock Down 1.9 %

The stock has a market cap of $725.15 million, a PE ratio of -27.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The company has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $10.84.

Insider Buying and Selling

In related news, insider Tracy D. Daw sold 14,650 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $12.55, for a total value of $183,857.50. Following the sale, the insider now owns 6,362 shares in the company, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael C. Lunsford sold 97,000 shares of Funko stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the completion of the sale, the director now directly owns 11,613 shares of the company’s stock, valued at approximately $120,775.20. This trade represents a 89.31 % decrease in their position. The disclosure for this sale can be found here. 4.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Funko

A number of institutional investors and hedge funds have recently modified their holdings of FNKO. Dynamic Technology Lab Private Ltd purchased a new stake in Funko during the third quarter valued at $860,000. Massachusetts Financial Services Co. MA increased its position 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 valued at $34,609,000 after purchasing an additional 619,114 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Funko in the 3rd quarter worth approximately $136,000. Quest Partners LLC boosted its holdings in shares of Funko by 160.9% in the third quarter. Quest Partners LLC now owns 6,559 shares of the company’s stock worth $80,000 after buying an additional 4,045 shares during the last quarter. Finally, Creative Planning bought a new stake in Funko during the third quarter valued at approximately $240,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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.