1,000,000 Shares in Funko, Inc. (NASDAQ:FNKO) Acquired by ING Groep NV

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 bought a new position in Funko, Inc. (NASDAQ:FNKO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,000,000 shares of the company's stock, valued at approximately $6,860,000. ING Groep NV owned 1.83% of Funko at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Funko by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock valued at $26,222,000 after purchasing an additional 50,877 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Funko during the 4th quarter valued at about $152,000. Assenagon Asset Management S.A. grew its stake in shares of Funko by 952.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock valued at $8,475,000 after purchasing an additional 1,118,090 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Funko during the 1st quarter valued at about $3,170,000. Finally, Divisadero Street Capital Management LP bought a new stake in shares of Funko during the 4th quarter valued at about $13,783,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Funko

In other news, CEO Cynthia W. Williams sold 47,457 shares of the company'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 sale, the chief executive officer directly owned 32,769 shares of the company's stock, valued at $129,109.86. This represents a 59.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew David Oddie sold 9,580 shares of the company'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 sale, the insider directly owned 52,203 shares in the company, valued at $258,926.88. This trade represents 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 owned by corporate insiders.

Funko Stock Up 0.3%

NASDAQ FNKO opened at $3.60 on Tuesday. The stock's 50 day moving average is $4.58 and its 200 day moving average is $6.98. 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, Inc. has a 12 month low of $3.48 and a 12 month high of $14.65. The stock has a market cap of $197.78 million, a PE ratio of -9.73 and a beta of 0.81.

Funko (NASDAQ:FNKO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.10. The company had revenue of $190.74 million for the quarter, compared to analysts' expectations of $191.96 million. Funko had a negative return on equity of 5.01% and a negative net margin of 1.92%. The firm's revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. Research analysts predict that Funko, Inc. will post -0.12 EPS 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.

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