Massachusetts Financial Services Co. MA Sells 136,394 Shares of Funko, Inc. (NASDAQ:FNKO)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) by 29.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,623 shares of the company's stock after selling 136,394 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.59% of Funko worth $2,199,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FNKO. American Century Companies Inc. lifted its stake in shares of Funko by 18.5% during the 4th quarter. American Century Companies Inc. now owns 680,231 shares of the company's stock worth $9,108,000 after acquiring an additional 106,037 shares during the last quarter. Vanguard Group Inc. grew its stake in Funko by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock worth $26,222,000 after buying an additional 50,877 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Funko during the 4th quarter worth $152,000. Assenagon Asset Management S.A. grew its stake in Funko by 952.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock worth $8,475,000 after buying an additional 1,118,090 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in Funko during the 4th quarter worth $13,783,000. 99.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, 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 of the company's stock, valued at approximately $129,109.86. This trade represents a 59.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew David Oddie sold 9,580 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.96, for a total transaction of $47,516.80. Following the completion of the transaction, the insider owned 52,203 shares of the company's stock, valued at $258,926.88. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by company insiders.

Funko Price Performance

Shares of NASDAQ FNKO traded down $0.20 during mid-day trading on Thursday, reaching $4.52. 312,753 shares of the company traded hands, compared to its average volume of 1,081,242. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market cap of $248.33 million, a PE ratio of -12.23 and a beta of 0.80. Funko, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $14.65. The stock has a fifty day simple moving average of $4.59 and a 200-day simple moving average of $7.55.

Funko (NASDAQ:FNKO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.33) earnings per share for the quarter, beating 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 business had revenue of $190.74 million for the quarter, compared to analysts' expectations of $191.96 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The firm's revenue for the quarter was down 11.6% on a year-over-year basis. Equities research analysts anticipate that Funko, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FNKO shares. Wall Street Zen lowered Funko from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. The Goldman Sachs Group upgraded Funko from a "sell" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $5.50 in a report on Wednesday, May 14th. Finally, DA Davidson raised Funko to a "strong-buy" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.88.

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.