Funko’s (FNKO) Buy Rating Reaffirmed at DA Davidson

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock. DA Davidson’s target price points to a potential upside of 19.49% from the stock’s current price.

Other analysts also recently issued reports about the company. B. Riley upped their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Stifel Nicolaus upped their price target on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd.

Funko Trading Down 1.9 %

NASDAQ FNKO opened at $13.39 on Thursday. The firm’s fifty day moving average is $11.67 and its two-hundred day moving average is $10.85. Funko has a one year low of $5.36 and a one year high of $13.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. The firm has a market cap of $725.15 million, a PE ratio of -27.90 and a beta of 1.22.

Insiders Place Their Bets

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 directly owns 6,362 shares of the company’s stock, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael C. Lunsford sold 97,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the sale, the director now directly owns 11,613 shares of the company’s stock, valued at $120,775.20. This represents a 89.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.81% of the stock is owned by corporate insiders.

Institutional Trading of Funko

A number of institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new position in Funko during the second quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Funko during the 2nd quarter worth $121,000. Walleye Capital LLC acquired a new stake in Funko in the 3rd quarter valued at $129,000. SG Americas Securities LLC purchased a new stake in shares of Funko in the third quarter worth about $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Funko in the 3rd quarter worth approximately $196,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Company 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.