Assenagon Asset Management S.A. Grows Position in Funko, Inc. (NASDAQ:FNKO)

Assenagon Asset Management S.A. grew its holdings in shares of Funko, Inc. (NASDAQ:FNKO) by 952.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,235,437 shares of the company’s stock after acquiring an additional 1,118,090 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Funko were worth $8,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Funko by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,783 shares of the company’s stock valued at $238,000 after purchasing an additional 828 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Funko by 1.9% during the 4th quarter. Rhumbline Advisers now owns 50,050 shares of the company’s stock worth $670,000 after acquiring an additional 951 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Funko by 6.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,181 shares of the company’s stock worth $552,000 after acquiring an additional 2,413 shares in the last quarter. Invesco Ltd. increased its stake in Funko by 1.8% in the fourth quarter. Invesco Ltd. now owns 150,771 shares of the company’s stock valued at $2,019,000 after acquiring an additional 2,668 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Funko during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FNKO. DA Davidson upgraded Funko to a “strong-buy” rating in a report on Thursday, May 15th. Wall Street Zen downgraded Funko from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group upgraded Funko from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $5.50 in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.88.

Insider Activity at Funko

In other news, Director Jason Harinstein purchased 15,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $7.09 per share, with a total value of $106,350.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $106,350. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tracy D. Daw sold 18,608 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total transaction of $132,861.12. Following the completion of the sale, the insider now directly owns 26,332 shares in the company, valued at approximately $188,010.48. This trade represents a 41.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,809 shares of company stock valued at $384,525. Insiders own 3.27% of the company’s stock.

Funko Price Performance

FNKO stock opened at $5.13 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. Funko, Inc. has a 52 week low of $3.50 and a 52 week high of $14.65. The firm’s fifty day moving average is $4.36 and its 200 day moving average is $8.99. The firm has a market cap of $281.82 million, a P/E ratio of -10.69 and a beta of 0.77.

Funko (NASDAQ:FNKO) last released its earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.10. Funko had a negative net margin of 2.29% and a negative return on equity of 3.44%. The company had revenue of $190.74 million for the quarter, compared to analyst estimates of $191.96 million. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. Research analysts predict that Funko, Inc. will post -0.12 earnings per share for the current year.

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.