Funko (NASDAQ:FNKO) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Funko (NASDAQ:FNKO) has been given a sell (D-) rating by Weiss Ratings, highlighting concerns over its financial health.
• The company reported a significant earnings miss, posting a loss of ($0.48) per share for the last quarter, compared to a consensus estimate of ($0.18).
• Despite the negative outlook, some analysts maintain a buy rating with a target price of $7.00, while Goldman Sachs has lowered its price target to $2.50.

Funko (NASDAQ:FNKO - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

FNKO has been the subject of several other research reports. DA Davidson restated a "buy" rating and set a $7.00 price target on shares of Funko in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Funko from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group dropped their price objective on shares of Funko from $5.50 to $2.50 and set a "neutral" rating on the stock in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.17.

Funko Price Performance

FNKO opened at $3.29 on Wednesday. The firm has a market cap of $182.17 million, a P/E ratio of -2.72 and a beta of 0.81. The firm has a 50-day moving average of $3.32 and a 200 day moving average of $4.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.41 and a current ratio of 0.64. Funko has a fifty-two week low of $2.22 and a fifty-two week high of $14.65.

Funko (NASDAQ:FNKO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.30). The company had revenue of $193.47 million for the quarter, compared to the consensus estimate of $206.18 million. Funko had a negative net margin of 6.72% and a negative return on equity of 19.97%. Funko's quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, research analysts expect that Funko will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Funko

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Shay Capital LLC increased its position in shares of Funko by 29.5% during the second quarter. Shay Capital LLC now owns 441,808 shares of the company's stock valued at $2,103,000 after buying an additional 100,573 shares during the period. Manatuck Hill Partners LLC bought a new stake in shares of Funko during the second quarter valued at about $2,428,000. Bridgeway Capital Management LLC bought a new stake in shares of Funko during the second quarter valued at about $1,654,000. Brevan Howard Capital Management LP bought a new stake in shares of Funko during the second quarter valued at about $574,000. Finally, Bank of America Corp DE increased its position in shares of Funko by 105.8% during the second quarter. Bank of America Corp DE now owns 575,156 shares of the company's stock valued at $2,738,000 after buying an additional 295,725 shares during the period. 99.15% of the stock is currently owned by institutional investors.

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.

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