Assenagon Asset Management S.A. Purchases 1,118,090 Shares of Funko, Inc. (NASDAQ:FNKO)

Assenagon Asset Management S.A. grew its position in Funko, Inc. (NASDAQ:FNKO - Free Report) by 952.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,235,437 shares of the company's stock after buying an additional 1,118,090 shares during the quarter. Assenagon Asset Management S.A. owned 2.27% of Funko worth $8,475,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in shares of Funko by 384.3% during the 4th quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock worth $20,653,000 after acquiring an additional 1,223,939 shares during the period. Divisadero Street Capital Management LP acquired a new position in Funko during the 4th quarter worth approximately $13,783,000. SG Americas Securities LLC increased its holdings in Funko by 5,429.1% during the 1st quarter. SG Americas Securities LLC now owns 1,011,493 shares of the company's stock worth $6,939,000 after purchasing an additional 993,199 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in 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 last quarter. Finally, Nomura Holdings Inc. increased its holdings in Funko by 19.8% during the 4th quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company's stock worth $32,845,000 after purchasing an additional 404,849 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company's stock.

Insiders Place Their Bets

In other Funko news, insider Tracy D. Daw sold 18,608 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $7.14, for a total transaction of $132,861.12. Following the completion of the sale, the insider now directly owns 26,332 shares in the company, valued at $188,010.48. This represents a 41.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jason Harinstein purchased 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $7.09 per share, with a total value of $106,350.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at $106,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 79,809 shares of company stock valued at $384,525 in the last 90 days. 3.27% of the stock is currently owned by corporate insiders.

Funko Price Performance

Shares of Funko stock traded down $0.07 during midday trading on Friday, hitting $5.13. 2,156,429 shares of the company were exchanged, compared to its average volume of 840,803. The firm has a 50 day simple moving average of $4.36 and a 200-day simple moving average of $8.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. Funko, Inc. has a 52 week low of $3.50 and a 52 week high of $14.65. The firm has a market cap of $281.82 million, a P/E ratio of -10.69 and a beta of 0.77.

Funko (NASDAQ:FNKO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.10. The firm 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 for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. Research analysts forecast that Funko, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on FNKO shares. DA Davidson upgraded Funko to a "strong-buy" rating in a research note on Thursday, May 15th. The Goldman Sachs Group raised Funko from a "sell" rating to a "neutral" rating and reduced their target price for the company from $7.00 to $5.50 in a report on Wednesday, May 14th. Finally, Wall Street Zen lowered Funko from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.88.

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.