Funko (NASDAQ:FNKO) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Funko to “Hold.” Analyst coverage remains mixed, but the overall consensus is “Hold” with an average price target of $7.08.
• Funko shares opened at $6.74, near their 52-week high of $7.04. The company’s latest quarterly results beat expectations, reporting $0.26 in adjusted EPS versus the consensus estimate of a $0.21 loss, while revenue also exceeded forecasts.
• Director Charles D. Denson purchased nearly 73,000 shares for approximately $500,000, increasing his ownership by 37.22%; institutional investors and hedge funds own 99.15% of Funko’s outstanding stock.

Funko (NASDAQ:FNKO - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

FNKO has been the subject of a number of other reports. 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. Seaport Research Partners began coverage on shares of Funko in a report on Monday. They issued a "buy" rating and a $8.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Funko in a research note on Friday, July 17th. Wall Street Zen raised shares of Funko from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, DA Davidson increased their target price on shares of Funko from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Funko currently has a consensus rating of "Hold" and a consensus target price of $7.08.

Funko Price Performance

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

Funko (NASDAQ:FNKO - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.47. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. The business had revenue of $207.72 million during the quarter, compared to analyst estimates of $200.96 million. On average, sell-side analysts expect that Funko will post 0.34 earnings per share for the current year.

Insider Activity at Funko

In other Funko news, Director Charles D. Denson acquired 72,992 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $6.85 per share, for a total transaction of $499,995.20. Following the transaction, the director directly 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 is available through this link. Company insiders own 3.88% of the company's stock.

Institutional Trading of Funko

A number of hedge funds have recently made changes to their positions in FNKO. SG Americas Securities LLC grew its holdings in Funko by 2,249.0% during the 1st 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. Northwestern Mutual Wealth Management Co. increased its stake in shares of Funko by 850,199.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,401,196 shares of the company's stock worth $11,564,000 after purchasing an additional 3,400,796 shares in the last quarter. Odyssean LLC bought a new position in Funko in the 4th quarter worth approximately $98,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Funko in the third quarter valued at approximately $86,000. Finally, Engineers Gate Manager LP acquired a new stake in Funko during the 4th quarter valued at approximately $82,000. 99.15% of the stock is owned by institutional investors and hedge funds.

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.

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