The Goldman Sachs Group Upgrades Funko (NASDAQ:FNKO) to "Neutral"

Funko (NASDAQ:FNKO - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "sell" rating to a "neutral" rating in a report issued on Wednesday,Finviz reports. The brokerage currently has a $5.50 price target on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 6.59% from the company's previous close.

Separately, DA Davidson lowered their target price on Funko from $13.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, May 9th.

Funko Price Performance

FNKO stock opened at $5.16 on Wednesday. The company's 50-day moving average price is $5.60 and its two-hundred day moving average price is $10.10. The firm has a market cap of $281.40 million, a P/E ratio of -10.75 and a beta of 0.85. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Funko has a 12 month low of $3.50 and a 12 month high of $14.65.

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

Insider Buying and Selling

In other Funko news, insider Tracy D. Daw sold 18,608 shares of Funko stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total transaction of $132,861.12. Following the transaction, the insider now directly owns 26,332 shares of the company's stock, valued at approximately $188,010.48. The trade was a 41.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew David Oddie sold 3,867 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $8.87, for a total value of $34,300.29. Following the transaction, the insider now owns 23,200 shares of the company's stock, valued at $205,784. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,764 shares of company stock worth $239,730 in the last 90 days. Insiders own 4.81% of the company's stock.

Institutional Trading of Funko

A number of institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. grew its stake in Funko by 19.8% during the fourth quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company's stock worth $32,845,000 after purchasing an additional 404,849 shares during the period. Vanguard Group Inc. grew its position in shares of Funko by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock worth $26,222,000 after buying an additional 50,877 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Funko by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,963 shares of the company's stock valued at $20,688,000 after acquiring an additional 234,981 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Funko by 384.3% in the 4th quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock valued at $20,653,000 after acquiring an additional 1,223,939 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Funko by 952.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock valued at $8,475,000 after acquiring an additional 1,118,090 shares during the period. Institutional investors own 99.15% of the company's stock.

Funko Company Profile

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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