Wall Street Zen Downgrades Funko (NASDAQ:FNKO) to Sell

Funko (NASDAQ:FNKO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

FNKO has been the topic of several other research reports. The Goldman Sachs Group raised shares of Funko from a "sell" rating to a "neutral" rating and reduced 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 research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.88.

Funko Trading Down 1.1%

Shares of FNKO traded down $0.05 on Friday, hitting $4.70. 698,070 shares of the stock traded hands, compared to its average volume of 875,145. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $258.22 million, a P/E ratio of -12.70 and a beta of 0.80. The stock's 50 day moving average is $4.61 and its two-hundred day moving average is $7.70. Funko has a 1 year low of $3.50 and a 1 year high of $14.65.

Funko (NASDAQ:FNKO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.10. The business had revenue of $190.74 million for the quarter, compared to the consensus estimate of $191.96 million. Funko had a negative net margin of 1.92% and a negative return on equity of 5.01%. The company's quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts predict that Funko will post -0.12 earnings per share for the current year.

Insider Activity at Funko

In related news, CEO Cynthia W. Williams sold 47,457 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $3.94, for a total transaction 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 represents a 59.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider directly owned 52,203 shares of the company's stock, valued at $258,926.88. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,201 shares of company stock valued at $251,664 in the last ninety days. 3.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Funko

Large investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Funko by 18.5% in the fourth 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 in the last quarter. Vanguard Group Inc. increased its position 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 worth $26,222,000 after acquiring an additional 50,877 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Funko in the fourth quarter worth $152,000. Assenagon Asset Management S.A. increased its position in shares of Funko by 952.8% in the first 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 in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of Funko in the fourth quarter worth $13,783,000. 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.