Funko (NASDAQ:FNKO) Posts Earnings Results, Beats Estimates By $0.01 EPS

Funko (NASDAQ:FNKO) released its quarterly earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01, FiscalAI reports. The firm had revenue of $273.10 million for the quarter, compared to analyst estimates of $260.71 million. Funko had a negative return on equity of 23.66% and a negative net margin of 7.39%.

Funko Stock Performance

NASDAQ:FNKO traded down $0.19 during mid-day trading on Thursday, reaching $4.30. The stock had a trading volume of 961,115 shares, compared to its average volume of 1,135,021. Funko has a twelve month low of $2.22 and a twelve month high of $7.84. The business has a 50 day simple moving average of $4.10 and a 200 day simple moving average of $3.54. The firm has a market capitalization of $238.18 million, a price-to-earnings ratio of -3.39 and a beta of 0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 0.66.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FNKO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Funko in a research note on Thursday, January 22nd. Wall Street Zen raised Funko from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.75.

Hedge Funds Weigh In On Funko

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Funko by 5,627.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 900,360 shares of the company’s stock valued at $4,286,000 after buying an additional 884,639 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Funko by 434.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 946,845 shares of the company’s stock worth $3,219,000 after acquiring an additional 769,648 shares during the period. Fund 1 Investments LLC grew its holdings in Funko by 13.4% during the third quarter. Fund 1 Investments LLC now owns 5,413,887 shares of the company’s stock worth $18,624,000 after acquiring an additional 640,000 shares during the period. Manatuck Hill Partners LLC purchased a new position in Funko in the second quarter worth $2,428,000. Finally, Millennium Management LLC acquired a new stake in Funko in the third quarter valued at $1,352,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Company Profile

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.