Funko (NASDAQ:FNKO) Trading Down 0.7% – Here’s What Happened

Shares of Funko, Inc. (NASDAQ:FNKO) fell 0.7% on Friday . The company traded as low as $5.31 and last traded at $5.38. 610,906 shares were traded during trading, an increase of 1% from the average session volume of 605,755 shares. The stock had previously closed at $5.42.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FNKO. Truist Financial set a $6.50 price objective on Funko in a research report on Friday, March 13th. The Goldman Sachs Group boosted their price objective on Funko from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.50.

Funko Price Performance

The company has a market capitalization of $300.90 million, a price-to-earnings ratio of -5.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.78 and a current ratio of 1.15. The business has a 50 day moving average price of $4.67 and a 200-day moving average price of $4.05.

Funko (NASDAQ:FNKO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.23. Funko had a negative return on equity of 21.03% and a negative net margin of 6.30%.The company had revenue of $200.92 million for the quarter, compared to the consensus estimate of $188.60 million.

Insider Buying and Selling

In other news, insider Tracy D. Daw sold 12,793 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $3.65, for a total value of $46,694.45. Following the completion of the sale, the insider directly owned 47,016 shares of the company’s stock, valued at $171,608.40. This represents a 21.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew David Oddie sold 34,656 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $6.00, for a total value of $207,936.00. Following the completion of the sale, the insider directly owned 34,657 shares of the company’s stock, valued at approximately $207,942. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 60,182 shares of company stock worth $302,028. 3.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Funko

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Funko by 10.3% in the first quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock valued at $704,000 after acquiring an additional 20,882 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Funko in the first quarter worth $137,000. SEB Asset Management AB bought a new position in shares of Funko in the first quarter worth $235,000. Bank of New York Mellon Corp boosted its holdings in shares of Funko by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 103,125 shares of the company’s stock worth $325,000 after acquiring an additional 4,607 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Funko by 2,249.0% in the first quarter. SG Americas Securities LLC now owns 258,597 shares of the company’s stock worth $815,000 after acquiring an additional 247,588 shares during the period. 99.15% of the stock is owned by institutional investors.

About Funko

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.