CenterBook Partners LP Invests $4.30 Million in Funko, Inc. (NASDAQ:FNKO)

CenterBook Partners LP acquired a new position in Funko, Inc. (NASDAQ:FNKO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 626,266 shares of the company's stock, valued at approximately $4,296,000. CenterBook Partners LP owned about 1.15% of Funko as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNKO. Intech Investment Management LLC acquired a new position in Funko in the 4th quarter worth approximately $148,000. Hsbc Holdings PLC purchased a new stake in shares of Funko in the 4th quarter valued at $152,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Funko in the fourth quarter worth $183,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Funko by 15.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 27,429 shares of the company's stock worth $188,000 after acquiring an additional 3,603 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of Funko by 115.8% during the fourth quarter. AlphaQuest LLC now owns 14,154 shares of the company's stock worth $190,000 after purchasing an additional 7,595 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company's stock.

Insider Transactions at Funko

In related news, insider Andrew David Oddie sold 9,580 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 52,203 shares of the company's stock, valued at approximately $258,926.88. This represents a 15.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cynthia W. Williams sold 47,457 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $3.94, for a total value of $186,980.58. Following the completion of the transaction, the chief executive officer owned 32,769 shares in the company, valued at $129,109.86. The trade was a 59.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,201 shares of company stock worth $251,664 over the last ninety days. 3.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on FNKO shares. The Goldman Sachs Group raised shares of Funko from a "sell" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $5.50 in a report on Wednesday, May 14th. DA Davidson raised shares of Funko to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Funko from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.88.

Funko Price Performance

Shares of Funko stock traded up $0.11 on Wednesday, reaching $4.66. The company's stock had a trading volume of 537,700 shares, compared to its average volume of 871,673. Funko, Inc. has a 52-week low of $3.50 and a 52-week high of $14.65. The company has a market capitalization of $256.02 million, a P/E ratio of -12.59 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $4.57 and a 200-day moving average price of $7.86.

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