Funko, Inc. (NASDAQ:FNKO) Position Trimmed by TBH Global Asset Management LLC

TBH Global Asset Management LLC lessened its holdings in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) by 48.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,224 shares of the company's stock after selling 100,000 shares during the quarter. TBH Global Asset Management LLC owned approximately 0.19% of Funko worth $722,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its position in 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 purchasing an additional 106,037 shares during the period. Vanguard Group Inc. grew its stake in shares of Funko by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock valued at $26,222,000 after buying an additional 50,877 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Funko in the fourth quarter valued at about $152,000. Divisadero Street Capital Management LP acquired a new position in Funko during the 4th quarter worth approximately $13,783,000. Finally, Assenagon Asset Management S.A. boosted 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 period. Institutional investors and hedge funds own 99.15% of the company's stock.

Insider Activity

In other Funko news, insider Andrew David Oddie sold 9,580 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.96, for a total transaction of $47,516.80. Following the sale, the insider owned 52,203 shares in the company, valued at $258,926.88. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Cynthia W. Williams sold 47,457 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $3.94, for a total value of $186,980.58. Following the transaction, the chief executive officer directly owned 32,769 shares in the company, valued at approximately $129,109.86. This represents 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 valued at $251,664 in the last three months. Insiders own 3.27% of the company's stock.

Funko Stock Down 1.5%

NASDAQ FNKO traded down $0.07 during mid-day trading on Tuesday, reaching $4.69. 893,665 shares of the company's stock traded hands, compared to its average volume of 854,565. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44. Funko, Inc. has a 1-year low of $3.50 and a 1-year high of $14.65. The company has a fifty day simple moving average of $4.46 and a 200-day simple moving average of $8.42. The company has a market cap of $257.67 million, a price-to-earnings ratio of -12.68 and a beta of 0.80.

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

Wall Street Analyst Weigh In

FNKO has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Funko from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $5.50 in a research note on Wednesday, May 14th. DA Davidson raised shares of Funko to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Funko from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.