Northern Trust Corp boosted its position in shares of Funko Inc (NASDAQ:FNKO) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,365 shares of the company’s stock after acquiring an additional 5,849 shares during the quarter. Northern Trust Corp’s holdings in Funko were worth $1,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNKO. BlackRock Inc. raised its position in shares of Funko by 4.4% in the second quarter. BlackRock Inc. now owns 560,360 shares of the company’s stock valued at $7,033,000 after purchasing an additional 23,584 shares during the period. Feinberg Stephen bought a new position in shares of Funko in the second quarter valued at about $2,242,000. EAM Global Investors LLC bought a new position in shares of Funko in the second quarter valued at about $1,567,000. EAM Investors LLC bought a new position in shares of Funko in the second quarter valued at about $1,241,000. Finally, Millennium Management LLC raised its position in shares of Funko by 213.2% in the second quarter. Millennium Management LLC now owns 84,409 shares of the company’s stock valued at $1,059,000 after purchasing an additional 57,455 shares during the period. 40.35% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on FNKO shares. Zacks Investment Research lowered shares of Funko from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Piper Jaffray Companies set a $24.00 price objective on shares of Funko and gave the company a “buy” rating in a research report on Thursday, August 9th. Jefferies Financial Group set a $23.00 price objective on shares of Funko and gave the company a “buy” rating in a research report on Wednesday, November 28th. BMO Capital Markets raised their price target on shares of Funko from $8.00 to $10.50 and gave the stock a “market perform” rating in a research report on Monday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Funko from $14.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $19.88.
Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Funko had a net margin of 1.55% and a return on equity of 10.69%. The business had revenue of $176.90 million for the quarter, compared to analyst estimates of $166.07 million. During the same period last year, the firm earned $0.04 earnings per share. Funko’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities research analysts anticipate that Funko Inc will post 0.71 earnings per share for the current year.
In other Funko news, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $20.36, for a total transaction of $203,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Andrew Mark Perlmutter sold 55,000 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $20.02, for a total transaction of $1,101,100.00. The disclosure for this sale can be found here. 18.39% of the stock is currently owned by company insiders.
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Funko Company Profile
Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.
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