Funko (NASDAQ:FNKO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Funko from “buy” to “strong buy.” However, MarketBeat’s broader analyst consensus remains “hold,” with an average price target of $7.08.
• Funko reported quarterly EPS of $0.16, beating the $0.10 estimate, and revenue of $258.34 million, above expectations of $250.70 million.
• A company director bought 72,992 shares for about $500,000, while insiders collectively sold 228,662 shares worth about $1.36 million over the past three months.

Funko (NASDAQ:FNKO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Seaport Research Partners assumed coverage on Funko in a report on Monday, August 24th. They set a "buy" rating and a $8.00 price target on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $6.75 price objective on shares of Funko in a research report on Monday, August 10th. DA Davidson lifted their price objective on shares of Funko from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Funko from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Monday. Finally, Zacks Research upgraded shares of Funko to a "hold" rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.08.

Funko Stock Up 0.1%

Shares of Funko stock opened at $6.91 on Friday. Funko has a one year low of $2.72 and a one year high of $7.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.19 and a quick ratio of 0.79. The stock's 50-day moving average is $6.16 and its 200 day moving average is $5.26. The firm has a market cap of $390.00 million, a price-to-earnings ratio of 31.36 and a beta of 1.00.

Funko (NASDAQ:FNKO - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $258.34 million during the quarter, compared to analysts' expectations of $250.70 million. Funko had a return on equity of 6.48% and a net margin of 0.49%. Equities research analysts anticipate that Funko will post 0.34 EPS for the current year.

Insider Activity

In other news, Director Charles D. Denson purchased 72,992 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $6.85 per share, with a total value of $499,995.20. Following the purchase, the director owned 269,084 shares in the company, valued at $1,843,225.40. This represents a 37.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Pendeven Le sold 35,907 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $6.51, for a total value of $233,754.57. Following the completion of the transaction, the chief financial officer owned 35,907 shares in the company, valued at approximately $233,754.57. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 228,662 shares of company stock worth $1,363,086 in the last three months. Company insiders own 3.88% of the company's stock.

Institutional Investors Weigh In On Funko

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Funko by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 103,125 shares of the company's stock valued at $325,000 after buying an additional 4,607 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Funko by 10.3% during the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company's stock worth $704,000 after buying an additional 20,882 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Funko in the 1st quarter worth approximately $137,000. Ritholtz Wealth Management purchased a new position in shares of Funko in the 3rd quarter worth approximately $326,000. Finally, SEB Asset Management AB purchased a new position in shares of Funko in the 1st quarter worth approximately $235,000. Institutional investors own 99.15% of the company's stock.

Funko Company Profile

Funko is a pop culture consumer products company that designs, sources and distributes collectibles and other products based on licensed characters, franchises and brands. Its best-known products include Pop! vinyl figures, along with plush toys, action figures, apparel and games. The company also sells accessories and bags through its Loungefly brand. Its products draw on properties from entertainment, sports and other areas of popular culture, and are sold through retailers, specialty stores and online channels in the United States and internationally.

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