Funko Sees Unusually High Options Volume (NASDAQ:FNKO)

Key Points

• Traders bought 10,112 call options on FNKO—an unusually high surge of about 853% above average call volume, indicating heightened options activity and bullish interest.
• FNKO shares traded up to $4.38 with 612,406 shares changing hands; the company reported quarterly EPS of $0.06 that beat estimates while revenue missed, but it still shows a negative net margin (-7.39%) and negative ROE (-23.66%).
• 99.15% of Funko is held by institutional investors with recent stake increases from AQR, Jane Street and RBC, and analysts carry a consensus Hold rating with a $4.75 target price.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders bought 10,112 call options on the stock. This represents an increase of approximately 853% compared to the average volume of 1,061 call options.

Funko Stock Performance

Shares of FNKO stock traded up $0.61 during midday trading on Thursday, hitting $4.38. 612,406 shares of the company were exchanged, compared to its average volume of 926,978. Funko has a 52 week low of $2.22 and a 52 week high of $14.28. The firm has a market capitalization of $242.50 million, a P/E ratio of -3.49 and a beta of 0.54. The firm's 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 0.66.

Funko (NASDAQ:FNKO - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. The firm had revenue of $250.91 million during the quarter, compared to the consensus estimate of $264.94 million. Funko had a negative net margin of 7.39% and a negative return on equity of 23.66%. As a group, equities research analysts anticipate that Funko will post -0.12 earnings per share for the current year.

Institutional Trading of Funko

Several hedge funds and other institutional investors have recently bought and sold shares of FNKO. Royal Bank of Canada lifted its stake in Funko by 95.3% during the first quarter. Royal Bank of Canada now owns 32,345 shares of the company's stock worth $222,000 after purchasing an additional 15,782 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Funko by 343.6% during the 1st quarter. AQR Capital Management LLC now owns 340,130 shares of the company's stock worth $2,333,000 after buying an additional 263,451 shares during the last quarter. Jane Street Group LLC boosted its stake in Funko by 296.6% in the first quarter. Jane Street Group LLC now owns 74,124 shares of the company's stock valued at $508,000 after buying an additional 55,436 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Funko in the second quarter valued at about $51,000. Finally, Public Employees Retirement System of Ohio grew its position in Funko by 46.5% in the second quarter. Public Employees Retirement System of Ohio now owns 51,532 shares of the company's stock valued at $245,000 after acquiring an additional 16,352 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Funko from a "sell" rating to a "hold" rating in a report on Sunday, November 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Funko in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Funko currently has a consensus rating of "Hold" and a consensus target price of $4.75.

About Funko

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company's signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko's portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.

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