Funko, Inc. (NASDAQ:FNKO) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Funko, with one sell, two hold and one buy recommendation. The average 12-month price target is $7.08, above the reported opening price of $5.43.
• Funko exceeded quarterly expectations, reporting $0.26 in earnings per share versus the consensus estimate of a $0.21 loss, while revenue of $207.72 million also topped forecasts.
• Insider activity was mixed: a director bought nearly 73,000 shares, while the CFO sold about 35,900 shares; institutional investors collectively own approximately 99.15% of the company.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) has received an average recommendation of "Hold" from the four ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.0833.

A number of research firms have weighed in on FNKO. DA Davidson boosted their price objective on shares of Funko from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Funko in a report on Friday, July 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $6.75 price objective on shares of Funko in a research note on Monday, August 10th. Seaport Research Partners initiated coverage on shares of Funko in a report on Monday, August 24th. They issued a "buy" rating and a $8.00 price target on the stock. Finally, Wall Street Zen upgraded Funko from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th.

Funko Price Performance

Shares of NASDAQ:FNKO opened at $5.43 on Tuesday. Funko has a twelve month low of $2.72 and a twelve month high of $7.35. The firm's 50 day moving average price is $5.92 and its 200-day moving average price is $5.10. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $303.70 million, a PE ratio of -135.72 and a beta of 0.94.

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

Insider Activity at Funko

In other Funko news, CFO Pendeven Le sold 35,907 shares of Funko stock in a transaction on Tuesday, September 1st. The shares were 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 of the company's stock, valued at approximately $233,754.57. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Denson bought 72,992 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were acquired at an average price 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 approximately $1,843,225.40. This represents a 37.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 228,662 shares of company stock worth $1,363,086. 3.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FNKO. SG Americas Securities LLC raised its stake 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 valued at $815,000 after acquiring an additional 247,588 shares in the last quarter. Empowered Funds LLC increased its position in Funko by 10.3% during the first quarter. Empowered Funds LLC now owns 223,589 shares of the company's stock worth $704,000 after buying an additional 20,882 shares during the period. Bank of New York Mellon Corp purchased a new stake in Funko in the 2nd quarter valued at $648,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Funko during the second quarter worth about $494,000. Finally, SEB Asset Management AB acquired a new position in shares of Funko in the first quarter valued at approximately $235,000. Hedge funds and other institutional investors own 99.15% of the company's stock.

About Funko

Funko, Inc is a consumer products company that designs, sources and distributes licensed and proprietary pop culture merchandise. Its best-known products are Pop! vinyl figures, which feature characters from movies, television, video games, sports, music and other entertainment properties. The company also offers a broader range of collectibles, toys, apparel, accessories, home goods and other merchandise.

Funko's portfolio includes Loungefly, a lifestyle brand known for licensed bags, wallets, apparel and accessories, as well as products sold under additional proprietary and licensed brands.

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