Cubist Systematic Strategies LLC Invests $704,000 in Funko, Inc. $FNKO

Key Points

• Cubist Systematic Strategies LLC has invested $704,000 in Funko, Inc. by purchasing 102,551 shares, representing approximately 0.19% ownership in the company.
• Funko recently announced disappointing earnings, reporting a loss of ($0.48) EPS, which was significantly below analysts' expectations of ($0.18).
• Despite mixed ratings from analysts, Funko currently holds a consensus rating of "Moderate Buy" with an average target price of $9.13.

Cubist Systematic Strategies LLC acquired a new position in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 102,551 shares of the company's stock, valued at approximately $704,000. Cubist Systematic Strategies LLC owned approximately 0.19% of Funko as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FNKO. OMERS ADMINISTRATION Corp acquired a new position in shares of Funko during the fourth quarter worth about $183,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Funko by 15.1% in the first 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in Funko by 23,515.1% in the first quarter. Russell Investments Group Ltd. now owns 29,755 shares of the company's stock valued at $204,000 after purchasing an additional 29,629 shares in the last quarter. Trexquant Investment LP boosted its holdings in Funko by 116.0% in the first 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 in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Funko in the first quarter valued at approximately $212,000. 99.15% of the stock is owned by institutional investors and hedge funds.

Funko Stock Performance

Shares of FNKO stock traded up $0.01 during trading hours on Monday, hitting $3.34. The stock had a trading volume of 424,995 shares, compared to its average volume of 1,466,469. The firm has a market capitalization of $184.92 million, a PE ratio of -2.76 and a beta of 0.81. Funko, Inc. has a twelve month low of $2.22 and a twelve month high of $14.65. The stock's 50 day moving average is $3.63 and its 200 day moving average is $4.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.64 and a quick ratio of 0.41.

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

Analyst Ratings Changes

FNKO has been the subject of a number of research analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $7.00 price target on shares of Funko in a report on Monday, July 28th. Wall Street Zen downgraded Funko from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group lowered their price target on Funko from $5.50 to $2.50 and set a "neutral" rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Funko currently has a consensus rating of "Hold" and an average target price of $7.17.

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.