Divisadero Street Capital Management LP Purchases New Position in Funko, Inc. (NASDAQ:FNKO)

Divisadero Street Capital Management LP bought a new stake in Funko, Inc. (NASDAQ:FNKO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,029,351 shares of the company's stock, valued at approximately $13,783,000. Funko accounts for 1.6% of Divisadero Street Capital Management LP's investment portfolio, making the stock its 19th biggest position. Divisadero Street Capital Management LP owned 1.90% of Funko as of its most recent SEC filing.

Several other large investors have also modified their holdings of FNKO. Marshall Wace LLP lifted its position in Funko by 384.3% in the fourth quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock valued at $20,653,000 after buying an additional 1,223,939 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Funko by 5,486.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock worth $10,133,000 after acquiring an additional 814,357 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Funko by 123.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 817,638 shares of the company's stock worth $10,948,000 after purchasing an additional 451,806 shares during the period. Wealthfront Advisers LLC acquired a new stake in Funko in the 4th quarter valued at approximately $4,425,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Funko in the 4th quarter valued at approximately $3,606,000. Institutional investors and hedge funds own 99.15% of the company's stock.

Funko Stock Down 15.5 %

FNKO traded down $0.65 during trading hours on Friday, hitting $3.55. 2,253,117 shares of the company's stock were exchanged, compared to its average volume of 772,139. The firm has a market cap of $193.60 million, a P/E ratio of -7.40 and a beta of 0.85. Funko, Inc. has a 12-month low of $3.50 and a 12-month high of $14.65. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $5.72 and a 200 day moving average of $10.17.

Funko (NASDAQ:FNKO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.10. The business had revenue of $190.74 million for the quarter, compared to analyst estimates of $191.96 million. Funko had a negative return on equity of 3.44% and a negative net margin of 2.29%. The company's revenue was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Analysts predict that Funko, Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Funko

In related news, insider Tracy D. Daw sold 18,608 shares of Funko stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $7.14, for a total value of $132,861.12. Following the completion of the transaction, the insider now owns 26,332 shares in the company, valued at $188,010.48. The trade was a 41.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Harinstein acquired 15,000 shares of Funko stock in a transaction dated Monday, March 17th. The stock was purchased at an average price of $7.09 per share, for a total transaction of $106,350.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $106,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 33,764 shares of company stock valued at $239,730 in the last quarter. Corporate insiders own 4.81% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson lowered their price target on Funko from $13.00 to $7.00 and set a "buy" rating for the company in a research report on Friday.

Funko Company 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.