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 purchased a new position in Funko, Inc. (NASDAQ:FNKO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 102,551 shares of the company's stock, valued at approximately $704,000. Cubist Systematic Strategies LLC owned 0.19% of Funko at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. ING Groep NV bought a new stake in Funko in the 1st quarter worth $6,860,000. Pacer Advisors Inc. bought a new stake in Funko in the 1st quarter worth $3,170,000. Assenagon Asset Management S.A. grew its holdings in Funko by 952.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock worth $8,475,000 after acquiring an additional 1,118,090 shares during the last quarter. Graham Capital Management L.P. grew its holdings in Funko by 242.2% in the 1st quarter. Graham Capital Management L.P. now owns 136,125 shares of the company's stock worth $934,000 after acquiring an additional 96,347 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Funko in the 1st quarter worth $1,452,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Funko Stock Down 1.8%

FNKO stock traded down $0.06 during midday trading on Friday, hitting $3.33. The stock had a trading volume of 665,081 shares, compared to its average volume of 1,525,922. The firm has a market cap of $184.38 million, a price-to-earnings ratio of -2.75 and a beta of 0.81. The business has a 50-day moving average of $3.65 and a two-hundred day moving average of $4.92. Funko, Inc. has a 52-week low of $2.22 and a 52-week high of $14.65. 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 issued its quarterly earnings results 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 analysts' expectations of $206.18 million. Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%.Funko's revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, equities research analysts forecast that Funko, Inc. will post -0.12 earnings per share for the current fiscal 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.