Goldman Sachs Group Inc. Sells 84,743 Shares of Funko, Inc. $FNKO

Key Points

• Goldman Sachs has reduced its stake in Funko, Inc. by 32.6%, selling 84,743 shares during the first quarter and holding a total of 174,842 shares valued at approximately $1,199,000.
• Funko's quarterly earnings report showed a loss of ($0.48) per share, significantly missing the consensus estimate of ($0.18), with revenues declining 21.9% year-over-year.
• Two analysts downgraded Funko's stock ratings recently, with Goldman Sachs lowering its price target from $5.50 to $2.50 and Wall Street Zen shifting from a "hold" to a "sell" rating.

Goldman Sachs Group Inc. lessened its holdings in Funko, Inc. (NASDAQ:FNKO - Free Report) by 32.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,842 shares of the company's stock after selling 84,743 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.32% of Funko worth $1,199,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Funko by 4.9% during the fourth 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. Man Group plc bought a new stake in Funko in the fourth quarter valued at approximately $293,000. Skandinaviska Enskilda Banken AB publ increased its stake 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. Deutsche Bank AG increased its stake in Funko by 53.0% in the fourth 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 in the last quarter. Finally, Trexquant Investment LP increased its stake 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. Institutional investors own 99.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FNKO. DA Davidson reaffirmed a "buy" rating and issued a $7.00 target price on shares of Funko in a research note on Monday, July 28th. The Goldman Sachs Group dropped their target price on Funko from $5.50 to $2.50 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Wall Street Zen cut Funko from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.17.

Funko Trading Up 15.9%

Funko stock traded up $0.55 during mid-day trading on Monday, reaching $4.01. The company had a trading volume of 3,197,484 shares, compared to its average volume of 1,184,140. Funko, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $14.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.41 and a current ratio of 0.64. The business has a fifty day simple moving average of $3.54 and a 200 day simple moving average of $4.50.

Funko (NASDAQ:FNKO - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $206.18 million. Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%.The business's revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Funko, Inc. will post -0.12 EPS 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.