Funko (NASDAQ:FNKO) Director Charles Denson Buys 72,992 Shares

Key Points

• Funko director Charles Denson purchased 72,992 shares at an average price of $6.85, investing nearly $500,000 and increasing his stake by 37.22% to 269,084 shares.
• Funko reported quarterly EPS of $0.26, beating estimates by $0.47, while revenue of $207.72 million also exceeded expectations.
• Analyst sentiment remains mixed, with ratings ranging from sell to buy; the stock has an average “Hold” rating and a consensus price target of $7.08.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) Director Charles Denson acquired 72,992 shares of the business's stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $6.85 per share, with a total value of $499,995.20. Following the completion of the purchase, the director owned 269,084 shares in the company, valued at $1,843,225.40. This represents a 37.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Funko Price Performance

Shares of NASDAQ FNKO traded down $0.35 during midday trading on Wednesday, hitting $6.38. The stock had a trading volume of 677,000 shares, compared to its average volume of 955,542. The company has a market capitalization of $356.83 million, a PE ratio of -159.46 and a beta of 0.93. Funko, Inc. has a 1 year low of $2.72 and a 1 year high of $7.04. The stock has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $4.91. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

Funko (NASDAQ:FNKO - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.47. The company had revenue of $207.72 million during the quarter, compared to analysts' expectations of $200.96 million. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%.

Institutional Investors Weigh In On Funko

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNKO. Boothbay Fund Management LLC purchased a new position in shares of Funko during the 4th quarter worth $63,000. Engineers Gate Manager LP acquired a new position in Funko in the fourth quarter valued at about $82,000. Brown Brothers Harriman & Co. acquired a new position in Funko in the third quarter valued at about $86,000. Odyssean LLC purchased a new position in Funko during the fourth quarter worth about $98,000. Finally, Royal Bank of Canada boosted 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 buying an additional 15,782 shares during the period. Institutional investors and hedge funds own 99.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FNKO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Funko in a research report on Friday, July 17th. DA Davidson upped their target price on Funko from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $6.75 target price on shares of Funko in a research note on Monday, August 10th. Wall Street Zen upgraded Funko from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Seaport Research Partners initiated coverage on shares of Funko in a research report on Monday. They set a "buy" rating and a $8.00 price objective for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.08.

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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