Funko, Inc. (NASDAQ:FNKO) Stock Has Average Target Price of $7.08

Key Points

• Analysts have a “Hold” consensus on Funko, with one sell, two hold, and one buy rating. The average 12-month price target is $7.08, modestly above the stock’s recent price of $6.63.
• Funko’s latest quarterly results exceeded expectations, with adjusted EPS of $0.26 versus a consensus loss estimate of $0.21 and revenue of $207.72 million versus the expected $200.96 million.
• Insiders sold a combined 228,662 shares worth approximately $1.36 million over the past 90 days, while institutional investors and hedge funds own 99.15% of the company’s stock.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) has received a consensus recommendation of "Hold" from the four research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.08.

Several equities analysts have weighed in on FNKO shares. Weiss Ratings restated a "sell (d-)" rating on shares of Funko in a research note on Thursday. Wall Street Zen upgraded shares of Funko from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Funko to a "hold" rating in a research note on Wednesday, August 26th. 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. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $6.75 price target on shares of Funko in a research report on Monday, August 10th.

Funko Stock Down 2.8%

Shares of Funko stock traded down $0.19 on Friday, hitting $6.63. The company had a trading volume of 2,065,052 shares, compared to its average volume of 980,868. Funko has a 1 year low of $2.72 and a 1 year high of $7.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.79 and a current ratio of 1.16. The stock has a 50 day moving average of $5.98 and a 200-day moving average of $5.38. The stock has a market capitalization of $370.82 million, a price-to-earnings ratio of -165.71 and a beta of 0.95.

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

Insiders Place Their Bets

In other Funko news, CFO Pendeven Le sold 35,907 shares of Funko stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $6.51, for a total transaction of $233,754.57. Following the transaction, the chief financial officer owned 35,907 shares of the company's stock, valued at $233,754.57. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Josh Simon sold 181,893 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $5.79, for a total value of $1,053,160.47. Following the completion of the transaction, the chief executive officer owned 151,440 shares in the company, valued at $876,837.60. The trade was a 54.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 228,662 shares of company stock valued at $1,363,086. Corporate insiders own 3.88% of the company's stock.

Institutional Trading of Funko

A number of institutional investors and hedge funds have recently modified their holdings of FNKO. SG Americas Securities LLC lifted its holdings in Funko by 2,249.0% during the first 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. Empowered Funds LLC grew its stake in Funko by 10.3% in the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company's stock valued at $704,000 after purchasing an additional 20,882 shares during the period. Bank of New York Mellon Corp bought a new position in Funko in the 2nd quarter valued at $648,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Funko during the 2nd quarter valued at $494,000. Finally, SEB Asset Management AB purchased a new stake in shares of Funko during the 1st quarter valued at $235,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

About Funko

Funko, Inc is a consumer products company that designs, sources and distributes licensed and proprietary pop-culture collectibles. Its best-known product is the Pop! line of stylized vinyl figures, which features characters from entertainment franchises, sports, music and other cultural properties. The company also offers action figures, plush products, apparel, accessories, games and other collectible merchandise.

Funko's portfolio is built around licensing partnerships with major media, entertainment and consumer brands, including franchises associated with film, television, video games, comics and sports.

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