Two Sigma Investments LP Reduces Stock Position in Funko, Inc. (NASDAQ:FNKO)

Two Sigma Investments LP reduced its stake in Funko, Inc. (NASDAQ:FNKO - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,805 shares of the company's stock after selling 181,304 shares during the quarter. Two Sigma Investments LP owned about 0.39% of Funko worth $2,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP lifted its stake in Funko by 384.3% during the 4th quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock valued at $20,653,000 after acquiring an additional 1,223,939 shares during the period. Divisadero Street Capital Management LP bought a new stake in Funko during the 4th quarter valued at approximately $13,783,000. Balyasny Asset Management L.P. lifted its holdings in shares of Funko by 123.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 817,638 shares of the company's stock worth $10,948,000 after buying an additional 451,806 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of Funko by 19.8% in the fourth quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company's stock worth $32,845,000 after purchasing an additional 404,849 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Funko during the fourth quarter valued at $4,425,000. 99.15% of the stock is currently owned by institutional investors.

Funko Price Performance

FNKO stock traded down $0.11 during mid-day trading on Wednesday, reaching $4.32. 107,534 shares of the company's stock were exchanged, compared to its average volume of 814,184. The company has a market cap of $237.04 million, a price-to-earnings ratio of -9.02 and a beta of 0.85. The stock's 50 day moving average is $4.52 and its 200 day moving average is $9.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. Funko, Inc. has a 12-month low of $3.50 and a 12-month high of $14.65.

Funko (NASDAQ:FNKO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. The firm 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 3.44% and a negative net margin of 2.29%. The firm's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, research analysts expect that Funko, Inc. will post -0.12 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tracy D. Daw sold 18,608 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total transaction of $132,861.12. Following the completion of the transaction, the insider now directly owns 26,332 shares in the company, valued at $188,010.48. This trade represents a 41.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew David Oddie sold 3,867 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $8.87, for a total transaction of $34,300.29. Following the sale, the insider now directly owns 23,200 shares in the company, valued at approximately $205,784. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,801 shares of company stock valued at $474,227 in the last ninety days. 3.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FNKO shares. The Goldman Sachs Group raised Funko from a "sell" rating to a "neutral" rating and cut their target price for the company from $7.00 to $5.50 in a research report on Wednesday, May 14th. Wall Street Zen lowered Funko from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, DA Davidson upgraded Funko to a "strong-buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $9.88.

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.