Funko, Inc. (NASDAQ:FNKO) Stake Cut by Tidal Investments LLC

Tidal Investments LLC cut its holdings in shares of Funko, Inc. (NASDAQ:FNKO) by 4.1% in the third quarter, HoldingsChannel reports. The fund owned 33,000 shares of the company’s stock after selling 1,400 shares during the quarter. Tidal Investments LLC’s holdings in Funko were worth $403,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Funko during the second quarter worth approximately $25,000. Walleye Capital LLC acquired a new stake in shares of Funko during the 3rd quarter valued at $129,000. SG Americas Securities LLC purchased a new position in shares of Funko during the 3rd quarter valued at $136,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Funko in the second quarter worth $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Funko during the third quarter worth $196,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

Insider Activity at Funko

In related news, Director Michael C. Lunsford sold 97,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $10.40, for a total value of $1,008,800.00. Following the transaction, the director now directly owns 11,613 shares in the company, valued at approximately $120,775.20. This trade represents a 89.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tracy D. Daw sold 14,650 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $12.55, for a total transaction of $183,857.50. Following the sale, the insider now owns 6,362 shares of the company’s stock, valued at $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,011 shares of company stock valued at $1,281,137. Corporate insiders own 4.81% of the company’s stock.

Funko Price Performance

NASDAQ FNKO opened at $12.32 on Tuesday. Funko, Inc. has a fifty-two week low of $5.36 and a fifty-two week high of $12.86. The stock’s 50-day moving average is $11.52 and its two-hundred day moving average is $10.71. The firm has a market cap of $667.20 million, a P/E ratio of -25.67 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.

Analysts Set New Price Targets

A number of research analysts have commented on FNKO shares. B. Riley boosted their target price on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Funko in a research note on Thursday, November 14th. Finally, Stifel Nicolaus raised their price objective on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd.

Funko 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.