Funko (NASDAQ:FNKO) Shares Gap Down Following Analyst Downgrade

Shares of Funko, Inc. (NASDAQ:FNKOGet Rating) gapped down prior to trading on Friday after DA Davidson lowered their price target on the stock from $50.00 to $48.00. The stock had previously closed at $26.69, but opened at $24.88. DA Davidson currently has a buy rating on the stock. Funko shares last traded at $22.81, with a volume of 40,112 shares.

Separately, JPMorgan Chase & Co. upgraded shares of Funko from a “neutral” rating to an “overweight” rating and upped their target price for the company from $25.00 to $28.00 in a research note on Thursday, June 23rd.

Insider Activity

In other news, Director Kenneth R. Brotman sold 4,720 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $21.00, for a total value of $99,120.00. Following the sale, the director now owns 1,180 shares in the company, valued at approximately $24,780. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Tracy D. Daw sold 7,893 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $22.64, for a total transaction of $178,697.52. Following the completion of the sale, the insider now owns 5,326 shares of the company’s stock, valued at approximately $120,580.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth R. Brotman sold 4,720 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $21.00, for a total transaction of $99,120.00. Following the sale, the director now directly owns 1,180 shares of the company’s stock, valued at approximately $24,780. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,148 shares of company stock worth $1,288,842. 12.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Funko

A number of institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in shares of Funko by 139.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 120,630 shares of the company’s stock valued at $2,692,000 after buying an additional 70,246 shares during the last quarter. Victory Capital Management Inc. grew its position in Funko by 625.6% in the 2nd quarter. Victory Capital Management Inc. now owns 878,115 shares of the company’s stock worth $19,600,000 after purchasing an additional 757,101 shares during the last quarter. SG Americas Securities LLC bought a new position in Funko in the 2nd quarter worth about $177,000. Allspring Global Investments Holdings LLC grew its position in Funko by 3.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 36,573 shares of the company’s stock worth $816,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in Funko in the 2nd quarter worth about $2,245,000. Institutional investors own 66.08% of the company’s stock.

Funko Trading Down 18.3 %

The firm’s 50-day simple moving average is $23.06 and its 200 day simple moving average is $19.53. The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.09 billion, a P/E ratio of 19.30, a PEG ratio of 0.77 and a beta of 1.91.

Funko (NASDAQ:FNKOGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $315.72 million during the quarter, compared to analysts’ expectations of $292.63 million. Funko had a net margin of 4.12% and a return on equity of 18.40%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities research analysts anticipate that Funko, Inc. will post 1.68 earnings per share for the current year.

About Funko

(Get Rating)

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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.

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