Funko, Inc. (NASDAQ:FNKO) Short Interest Down 10.7% in September

Funko, Inc. (NASDAQ:FNKO) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,820,000 shares, a drop of 10.7% from the August 31st total of 5,400,000 shares. Currently, 14.0% of the company’s stock are short sold. Based on an average daily trading volume, of 565,200 shares, the days-to-cover ratio is presently 8.5 days.

Funko Trading Down 1.9 %

NASDAQ:FNKO opened at $11.86 on Friday. The firm has a market cap of $635.68 million, a P/E ratio of -4.73 and a beta of 1.18. 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 stock’s 50 day simple moving average is $10.20 and its 200-day simple moving average is $8.66. Funko has a 12-month low of $5.36 and a 12-month high of $12.31.

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

Analyst Ratings Changes

FNKO has been the topic of several research analyst reports. B. Riley lifted their price target on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price target on Funko from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $12.00 price target on shares of Funko in a research report on Friday, August 9th.

Insider Activity

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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Andrew David Oddie sold 10,800 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the completion of the sale, the insider now owns 40,372 shares in the company, valued at $485,675.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael C. Lunsford sold 5,900 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $9.55, for a total value of $56,345.00. Following the sale, the director now owns 98,974 shares of the company’s stock, valued at approximately $945,201.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,048,444 shares of company stock worth $18,313,290. 4.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FNKO. Assenagon Asset Management S.A. acquired a new position in shares of Funko in the second quarter valued at approximately $6,996,000. Marshall Wace LLP boosted its stake in shares of Funko by 160.1% in 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 buying an additional 619,114 shares in the last quarter. Working Capital Advisors UK Ltd. boosted its stake in shares of Funko by 4.6% in the fourth quarter. Working Capital Advisors UK Ltd. now owns 7,129,838 shares of the company’s stock valued at $55,114,000 after buying an additional 310,639 shares in the last quarter. Finally, Bayberry Capital Partners LP boosted its stake in shares of Funko by 48.1% in 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 in the last quarter. Institutional investors and hedge funds 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.