Funko (NASDAQ:FNKO) Shares Up 5.8% – Still a Buy?

Funko, Inc. (NASDAQ:FNKO) shot up 5.8% during trading on Friday . The company traded as high as $12.33 and last traded at $12.31. 187,941 shares traded hands during trading, a decline of 64% from the average session volume of 523,859 shares. The stock had previously closed at $11.63.

Wall Street Analyst Weigh In

A number of brokerages have commented on FNKO. Stifel Nicolaus increased their price target on shares of Funko from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. B. Riley increased their price target on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 target price on shares of Funko in a report on Friday, August 9th.

Funko Price Performance

The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $659.27 million, a P/E ratio of -4.94 and a beta of 1.18. The firm’s fifty day moving average price is $10.44 and its 200-day moving average price is $8.81.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $231.04 million. During the same quarter last year, the business earned ($0.53) earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that Funko, Inc. will post -0.21 earnings per share for the current year.

Insider Activity at Funko

In related news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of Funko stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total value of $17,800,000.00. Following the sale, the insider now owns 5,129,838 shares in the company, valued at $45,655,558.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of Funko stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total value of $17,800,000.00. Following the sale, the insider now owns 5,129,838 shares in the company, valued at $45,655,558.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael C. Lunsford sold 5,900 shares of Funko stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $9.55, for a total transaction of $56,345.00. Following the completion of the sale, the director now owns 98,974 shares in the company, valued at approximately $945,201.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,035,805 shares of company stock worth $18,215,169 over the last quarter. Corporate insiders own 4.81% of the company’s stock.

Institutional Trading of Funko

A number of hedge funds have recently modified their holdings of the business. Working Capital Advisors UK Ltd. boosted its holdings in shares of Funko by 4.6% during the 4th 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. Massachusetts Financial Services Co. MA boosted its holdings in shares of Funko by 21.2% during the 2nd 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. Marshall Wace LLP boosted its holdings in shares of Funko by 160.1% during the 2nd 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. Bayberry Capital Partners LP boosted its holdings in shares of Funko by 48.1% during the 4th 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. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Funko during the 2nd quarter valued at $6,996,000. 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.