ING Groep NV Purchases New Shares in Funko, Inc. (NASDAQ:FNKO)

Key Points

• ING Groep NV has acquired 1,000,000 shares of Funko, Inc. (NASDAQ:FNKO) for approximately $6.86 million, representing a 1.83% stake in the company as of the end of the most recent quarter.
• Major moves by other hedge funds include Vanguard Group increasing its stake by 2.7% and Assenagon Asset Management boosting theirs by 952.8% during Q1.
• Funko's stock rating is currently a consensus "Hold", with analysts providing a price target ranging from $5.50 to $9.88 per share.

ING Groep NV purchased a new stake in Funko, Inc. (NASDAQ:FNKO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,000,000 shares of the company's stock, valued at approximately $6,860,000. ING Groep NV owned about 1.83% of Funko as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in Funko by 384.3% during the fourth quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock worth $20,653,000 after buying an additional 1,223,939 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Funko by 952.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock worth $8,475,000 after buying an additional 1,118,090 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in Funko during the fourth quarter worth about $13,783,000. SG Americas Securities LLC boosted its holdings in Funko by 5,429.1% during the first quarter. SG Americas Securities LLC now owns 1,011,493 shares of the company's stock worth $6,939,000 after buying an additional 993,199 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in Funko during the first quarter worth about $3,170,000. Institutional investors own 99.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FNKO shares. Wall Street Zen cut Funko from a "hold" rating to a "sell" rating in a report on Friday, July 18th. DA Davidson reiterated a "buy" rating and set a $7.00 price objective on shares of Funko in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised Funko from a "sell" rating to a "neutral" rating and dropped their target price for the company from $7.00 to $5.50 in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.88.

Insider Buying and Selling

In related news, CEO Cynthia W. Williams sold 47,457 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $3.94, for a total transaction of $186,980.58. Following the transaction, the chief executive officer directly owned 32,769 shares of the company's stock, valued at approximately $129,109.86. The trade was a 59.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew David Oddie sold 9,580 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.96, for a total value of $47,516.80. Following the transaction, the insider directly owned 52,203 shares in the company, valued at $258,926.88. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by insiders.

Funko Stock Down 32.8%

Shares of NASDAQ:FNKO traded down $1.20 during trading on Friday, hitting $2.46. 10,393,451 shares of the company were exchanged, compared to its average volume of 985,133. The stock has a market cap of $135.15 million, a price-to-earnings ratio of -2.03 and a beta of 0.81. Funko, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $14.65. The firm has a fifty day moving average price of $4.51 and a two-hundred day moving average price of $6.73. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44.

Funko (NASDAQ:FNKO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.30). The company had revenue of $193.47 million for the quarter, compared to analyst estimates of $206.18 million. Funko had a negative return on equity of 18.92% and a negative net margin of 6.72%. The firm's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. As a group, research analysts anticipate that Funko, Inc. will post -0.12 earnings per share for the current fiscal year.

Funko 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.