Pacer Advisors Inc. Takes Position in Funko, Inc. (NASDAQ:FNKO)

Key Points

• Pacer Advisors Inc. has made a new investment in Funko, Inc., purchasing 462,148 shares valued at approximately $3.17 million, representing about 0.85% of the company's total shares.
• Insider selling has occurred, with CEO Cynthia W. Williams selling 47,457 shares, reducing her ownership by 59.15% as shares traded down 6.8% recently.
• Analyst ratings for Funko have varied, with Goldman Sachs upgrading it to "neutral" but lowering the price target to $5.50, while DA Davidson maintained a "buy" rating with a target of $7.00.

Pacer Advisors Inc. acquired a new position in Funko, Inc. (NASDAQ:FNKO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 462,148 shares of the company's stock, valued at approximately $3,170,000. Pacer Advisors Inc. owned 0.85% of Funko as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Funko by 18.5% during the fourth quarter. American Century Companies Inc. now owns 680,231 shares of the company's stock worth $9,108,000 after purchasing an additional 106,037 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Funko by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock worth $26,222,000 after purchasing an additional 50,877 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Funko during the fourth quarter worth about $152,000. Assenagon Asset Management S.A. grew its position in shares of 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 purchasing an additional 1,118,090 shares in the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of Funko during the fourth quarter worth about $13,783,000. Institutional investors own 99.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FNKO shares. Wall Street Zen cut Funko from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. DA Davidson reiterated a "buy" rating and set a $7.00 target price on shares of Funko in a research report on Monday. Finally, The Goldman Sachs Group upgraded Funko from a "sell" rating to a "neutral" rating and cut their target price for the stock 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 given a buy rating to the company's stock. According to MarketBeat, Funko currently has a consensus rating of "Hold" and an average target price of $9.88.

Insider Activity at Funko

In other news, CEO Cynthia W. Williams sold 47,457 shares of the firm'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 value of $186,980.58. Following the completion of the sale, the chief executive officer directly owned 32,769 shares of the company's stock, valued at $129,109.86. This trade represents a 59.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew David Oddie sold 9,580 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.96, for a total value of $47,516.80. Following the completion of the sale, the insider directly owned 52,203 shares of the company's stock, 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 owned by company insiders.

Funko Price Performance

NASDAQ FNKO traded down $0.24 during trading on Friday, hitting $3.61. 786,025 shares of the stock traded hands, compared to its average volume of 1,082,830. The company has a market capitalization of $198.06 million, a P/E ratio of -9.74 and a beta of 0.80. The firm has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $7.14. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. Funko, Inc. has a 12-month low of $3.50 and a 12-month high of $14.65.

Funko (NASDAQ:FNKO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.10. The business had revenue of $190.74 million during 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 for the quarter was down 11.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts predict that Funko, Inc. will post -0.12 EPS for the current year.

About Funko

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.