Key Points
- Director Charles Denson bought 72,992 Funko shares at an average price of $6.85, investing nearly $500,000 and increasing his direct stake by 37.22% to 269,084 shares.
- Funko reported quarterly revenue of $207.72 million and adjusted earnings per share of $0.26, exceeding analysts’ expectations for $200.96 million in revenue and a $0.21 per-share loss.
- 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, compared with its recent opening price of $6.38.
Funko, Inc. (NASDAQ:FNKO - Get Free Report) Director Charles Denson purchased 72,992 shares of Funko stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $6.85 per share, with a total value of $499,995.20. Following the completion of the transaction, the director directly owned 269,084 shares in the company, valued at $1,843,225.40. The trade was a 37.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Funko Stock Performance
Shares of NASDAQ FNKO opened at $6.38 on Thursday. The company has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $4.92. The stock has a market cap of $356.84 million, a price-to-earnings ratio of -159.46 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.79 and a debt-to-equity ratio of 0.97. Funko, Inc. has a 12 month low of $2.72 and a 12 month high of $7.04.
Funko (NASDAQ:FNKO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.47. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. The firm had revenue of $207.72 million for the quarter, compared to analyst estimates of $200.96 million.
Institutional Trading of Funko
Several institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Funko in the second quarter valued at approximately $494,000. Bank of New York Mellon Corp acquired a new position in shares of Funko during the 2nd quarter worth approximately $648,000. Empowered Funds LLC raised its stake in shares of Funko by 10.3% during the 1st quarter. Empowered Funds LLC now owns 223,589 shares of the company's stock worth $704,000 after buying an additional 20,882 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Funko during the 1st quarter valued at approximately $137,000. Finally, SEB Asset Management AB purchased a new position in shares of Funko during the 1st quarter valued at approximately $235,000. 99.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on FNKO. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Funko in a research report on Friday, July 17th. Wall Street Zen raised Funko from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Seaport Research Partners assumed coverage on Funko in a research note on Monday. They issued a "buy" rating and a $8.00 target price on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $6.75 target price on shares of Funko in a report on Monday, August 10th. Finally, DA Davidson lifted their price target on Funko from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.08.
Check Out Our Latest Stock Analysis on Funko
Funko Company Profile
(
Get Free Report)
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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