Point72 Asset Management L.P. Purchases New Holdings in Funko, Inc. (NASDAQ:FNKO)

Point72 Asset Management L.P. acquired a new position in shares of Funko, Inc. (NASDAQ:FNKO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,453 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Funko during the second quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Funko in the second quarter worth about $121,000. Walleye Capital LLC bought a new stake in Funko during the 3rd quarter worth about $129,000. SG Americas Securities LLC acquired a new position in Funko during the 3rd quarter valued at about $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Funko in the 3rd quarter valued at about $196,000. 99.15% of the stock is currently owned by institutional investors.

Funko Stock Up 2.5 %

Funko stock opened at $12.16 on Friday. The firm has a market capitalization of $658.59 million, a price-to-earnings ratio of -25.33 and a beta of 1.22. The company’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $10.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. Funko, Inc. has a fifty-two week low of $5.36 and a fifty-two week high of $12.61.

Insider Activity

In other news, Director Michael C. Lunsford sold 97,000 shares of Funko stock in a transaction that occurred 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 sale, the director now directly owns 11,613 shares in the company, valued at $120,775.20. This trade represents a 89.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew David Oddie sold 10,800 shares of the business’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 completion of the sale, the insider now directly owns 40,372 shares in the company, valued at approximately $485,675.16. This represents a 21.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,805 shares of company stock valued at $1,246,661 in the last quarter. Company insiders own 4.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FNKO shares. B. Riley boosted their price target on shares of Funko from $13.00 to $15.00 and gave the stock 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 lifted their price objective on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research note 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.