Funko, Inc. (NASDAQ:FNKO) Sees Large Drop in Short Interest

Funko, Inc. (NASDAQ:FNKO - Get Free Report) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 3,640,000 shares, a drop of 21.4% from the April 30th total of 4,630,000 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 11.0% of the company's stock are sold short.

Funko Stock Performance

NASDAQ:FNKO traded up $0.19 during midday trading on Thursday, reaching $4.41. 736,067 shares of the company traded hands, compared to its average volume of 1,093,373. Funko has a twelve month low of $3.50 and a twelve month high of $14.65. The firm has a market capitalization of $241.99 million, a price-to-earnings ratio of -9.18 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The company has a fifty day moving average price of $4.47 and a 200 day moving average price of $9.28.

Funko (NASDAQ:FNKO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.10. Funko had a negative return on equity of 3.44% and a negative net margin of 2.29%. The business had revenue of $190.74 million during the quarter, compared to analyst estimates of $191.96 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business's revenue for the quarter was down 11.6% compared to the same quarter last year. On average, analysts expect that Funko will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FNKO. Wall Street Zen lowered Funko from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group upgraded Funko from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $7.00 to $5.50 in a research report on Wednesday, May 14th. Finally, DA Davidson upgraded Funko to a "strong-buy" rating in a research report on Thursday, May 15th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, Funko presently has an average rating of "Hold" and a consensus target price of $9.88.

Insider Buying and Selling at Funko

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Funko by 4.9% during the 4th 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. Rhumbline Advisers boosted its position in Funko by 1.9% during the 4th quarter. Rhumbline Advisers now owns 50,050 shares of the company's stock worth $670,000 after acquiring an additional 951 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Funko by 6.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,181 shares of the company's stock worth $552,000 after acquiring an additional 2,413 shares during the period. Invesco Ltd. boosted its position in Funko by 1.8% during the 4th quarter. Invesco Ltd. now owns 150,771 shares of the company's stock worth $2,019,000 after acquiring an additional 2,668 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in Funko during the 4th quarter worth $38,000. Institutional investors and hedge funds own 99.15% of the company's stock.

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.