Assenagon Asset Management S.A. Has $1.17 Million Stake in Funko, Inc. $FNKO

Key Points

• Assenagon Asset Management S.A. significantly decreased its stake in Funko, Inc. by 80.1%, owning $1.17 million worth of shares as of its latest SEC filing.
• Several hedge funds have made adjustments to their positions in Funko, with 99.15% of the company's stock now owned by institutional investors.
• Analysts have mixed views on Funko, with one downgrade to "sell" and others maintaining "buy" or "hold" ratings, as the company reports a loss of $0.48 EPS for the last quarter.

Assenagon Asset Management S.A. decreased its stake in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) by 80.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 246,221 shares of the company's stock after selling 989,216 shares during the period. Assenagon Asset Management S.A. owned 0.45% of Funko worth $1,172,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Funko during the 2nd quarter valued at about $51,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Funko by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,783 shares of the company's stock valued at $238,000 after purchasing an additional 828 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Funko by 15.1% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 27,429 shares of the company's stock valued at $188,000 after purchasing an additional 3,603 shares during the period. Deutsche Bank AG boosted its stake in Funko by 53.0% during the 4th quarter. Deutsche Bank AG now owns 28,407 shares of the company's stock valued at $380,000 after purchasing an additional 9,840 shares during the period. Finally, Trexquant Investment LP boosted its stake in Funko by 116.0% during the 1st quarter. Trexquant Investment LP now owns 29,724 shares of the company's stock valued at $204,000 after purchasing an additional 15,966 shares during the period. Institutional investors and hedge funds own 99.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded Funko from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. DA Davidson restated a "buy" rating and set a $7.00 target price on shares of Funko in a research note on Monday, July 28th. Finally, The Goldman Sachs Group decreased their target price on Funko from $5.50 to $2.50 and set a "neutral" rating for the company in a research note on Thursday, August 14th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Funko presently has a consensus rating of "Hold" and a consensus target price of $7.17.

Funko Price Performance

Shares of FNKO stock opened at $3.72 on Friday. The stock has a 50 day moving average of $3.48 and a two-hundred day moving average of $4.45. The company has a current ratio of 0.64, a quick ratio of 0.41 and a debt-to-equity ratio of 0.02. Funko, Inc. has a 12 month low of $2.22 and a 12 month high of $14.65. The company has a market capitalization of $205.98 million, a P/E ratio of -3.07 and a beta of 0.81.

Funko (NASDAQ:FNKO - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.30). Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%.The company had revenue of $193.47 million during the quarter, compared to analyst estimates of $206.18 million. During the same period in the previous year, the company posted $0.10 earnings per share. The company's quarterly revenue was down 21.9% on a year-over-year basis. As a group, equities analysts expect that Funko, Inc. will post -0.12 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.