Funko (NASDAQ:FNKO) Stock Price Down 10.3% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO)’s share price dropped 10.3% on Thursday . The stock traded as low as $10.24 and last traded at $10.09. Approximately 579,745 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 701,800 shares. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FNKO shares. Stifel Nicolaus lifted their price objective on Funko from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. DA Davidson restated a “buy” rating and set a $16.00 price objective on shares of Funko in a research note on Thursday, January 2nd.

Funko Stock Down 7.8 %

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 stock has a market cap of $561.60 million, a PE ratio of -21.60 and a beta of 0.94. The company has a 50 day moving average price of $13.41 and a two-hundred day moving average price of $12.10.

Funko (NASDAQ:FNKO) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Funko had a negative net margin of 2.29% and a negative return on equity of 3.44%. Analysts expect that Funko, Inc. will post -0.12 EPS for the current year.

Insider Activity

In other news, insider Tracy D. Daw sold 14,650 shares of the 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 transaction, the insider now owns 6,362 shares in the company, valued at $79,843.10. This represents a 69.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew David Oddie sold 27,712 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.67, for a total transaction of $378,823.04. Following the sale, the insider now owns 20,186 shares of the company’s stock, valued at $275,942.62. This trade represents a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,079 shares of company stock valued at $572,769 in the last ninety days. 4.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Funko

A number of hedge funds have recently modified their holdings of FNKO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Funko by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,783 shares of the company’s stock worth $238,000 after acquiring an additional 828 shares in the last quarter. Rhumbline Advisers boosted its holdings in Funko by 1.9% in the 4th quarter. Rhumbline Advisers now owns 50,050 shares of the company’s stock worth $670,000 after buying an additional 951 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Funko by 6.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,181 shares of the company’s stock worth $552,000 after buying an additional 2,413 shares in the last quarter. Invesco Ltd. raised its holdings in Funko by 1.8% during the fourth quarter. Invesco Ltd. now owns 150,771 shares of the company’s stock valued at $2,019,000 after acquiring an additional 2,668 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Funko in the fourth quarter worth about $38,000. Institutional investors own 99.15% of the company’s stock.

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.