Funko (NASDAQ:FNKO) Raised to Hold at Zacks Research

Funko (NASDAQ:FNKO) was upgraded by analysts at Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Funko in a report on Friday, July 17th. Seaport Research Partners began coverage on Funko in a report on Monday. They issued a “buy” rating and a $8.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating and set a $6.75 target price on shares of Funko in a research report on Monday, August 10th. Wall Street Zen upgraded Funko from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, DA Davidson lifted their price objective on Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.08.

Funko Stock Up 5.6%

Shares of FNKO opened at $6.74 on Wednesday. The stock has a market capitalization of $376.97 million, a PE ratio of -168.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.79 and a current ratio of 1.16. Funko has a 1 year low of $2.72 and a 1 year high of $7.04. The company’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $4.94.

Funko (NASDAQ:FNKO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.47. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%.The company had revenue of $207.72 million for the quarter, compared to the consensus estimate of $200.96 million. Analysts forecast that Funko will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Funko news, Director Charles D. Denson acquired 72,992 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $6.85 per share, with a total value of $499,995.20. Following the completion of the transaction, the director directly owned 269,084 shares of the company’s stock, valued at approximately $1,843,225.40. The trade was a 37.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Funko

Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Funko by 95.3% during the 1st quarter. Royal Bank of Canada now owns 32,345 shares of the company’s stock valued at $222,000 after purchasing an additional 15,782 shares in the last quarter. AQR Capital Management LLC boosted its position in Funko by 343.6% in the 1st quarter. AQR Capital Management LLC now owns 340,130 shares of the company’s stock valued at $2,333,000 after buying an additional 263,451 shares during the last quarter. Jane Street Group LLC boosted its position in Funko by 296.6% in the 1st quarter. Jane Street Group LLC now owns 74,124 shares of the company’s stock valued at $508,000 after buying an additional 55,436 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Funko by 5.4% during the second quarter. Geode Capital Management LLC now owns 867,243 shares of the company’s stock valued at $4,129,000 after acquiring an additional 44,448 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Funko by 5,627.1% during the second quarter. JPMorgan Chase & Co. now owns 900,360 shares of the company’s stock valued at $4,286,000 after acquiring an additional 884,639 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

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.