Funko (NASDAQ:FNKO) Shares Gap Down – Should You Sell?

Funko, Inc. (NASDAQ:FNKO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $12.22, but opened at $11.25. Funko shares last traded at $10.66, with a volume of 160,116 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FNKO shares. B. Riley lifted their price target on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 12th. DA Davidson upped their target price on Funko from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Finally, Stifel Nicolaus increased their price target on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Funko Trading Down 8.5 %

The firm’s fifty day moving average price is $11.60 and its 200-day moving average price is $9.92. The company has a market cap of $603.05 million, a price-to-earnings ratio of -12.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.59.

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

Insider Activity

In related news, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.00, for a total value of $120,000.00. Following the completion of the transaction, the insider now directly owns 6,362 shares of the company’s stock, valued at $76,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Andrew David Oddie sold 10,800 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 40,372 shares of the company’s stock, valued at approximately $485,675.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the sale, the insider now directly owns 6,362 shares of the company’s stock, valued at $76,344. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,805 shares of company stock valued at $415,169. Insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several large investors have recently bought and sold shares of FNKO. GSA Capital Partners LLP acquired a new stake in shares of Funko in the 1st quarter worth approximately $656,000. Assenagon Asset Management S.A. bought a new stake in Funko during the second quarter worth approximately $6,996,000. Massachusetts Financial Services Co. MA lifted its position 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 worth $34,609,000 after purchasing an additional 619,114 shares during the period. Renaissance Technologies LLC acquired a new stake in Funko in the second quarter worth approximately $1,138,000. Finally, Swiss National Bank boosted its stake in Funko by 12.7% during the 1st quarter. Swiss National Bank now owns 64,700 shares of the company’s stock valued at $404,000 after purchasing an additional 7,300 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.