Funko (NASDAQ:FNKO) Posts Earnings Results

Funko (NASDAQ:FNKO – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04, Briefing.com reports. The business had revenue of $315.72 million during the quarter, compared to the consensus estimate of $292.63 million. Funko had a return on equity of 15.91% and a net margin of 3.92%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Funko updated its FY 2022 guidance to $1.88-$1.99 EPS and its FY22 guidance to $1.88-1.99 EPS.

Funko Stock Down 18.3 %

Shares of FNKO traded down $4.89 during midday trading on Friday, reaching $21.81. 3,780,077 shares of the stock were exchanged, compared to its average volume of 769,862. Funko has a 52 week low of $15.28 and a 52 week high of $27.79. The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $23.06 and its two-hundred day moving average is $19.53. The company has a market capitalization of $1.09 billion, a P/E ratio of 20.38, a PEG ratio of 0.76 and a beta of 1.91.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised Funko from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $28.00 in a report on Thursday, June 23rd. DA Davidson decreased their price objective on Funko from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday.

Insider Transactions at Funko

In related news, CEO Andrew Mark Perlmutter sold 41,733 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $23.76, for a total transaction of $991,576.08. Following the completion of the sale, the chief executive officer now directly owns 94,061 shares in the company, valued at approximately $2,234,889.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Tracy D. Daw sold 7,893 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $22.64, for a total transaction of $178,697.52. Following the sale, the insider now directly owns 5,326 shares of the company’s stock, valued at $120,580.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Mark Perlmutter sold 41,733 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $23.76, for a total value of $991,576.08. Following the sale, the chief executive officer now directly owns 94,061 shares in the company, valued at $2,234,889.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,148 shares of company stock valued at $1,288,842. 12.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Funko

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Funko by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 193,372 shares of the company’s stock valued at $3,336,000 after purchasing an additional 8,162 shares during the period. Federated Hermes Inc. lifted its position in shares of Funko by 1.8% in the first quarter. Federated Hermes Inc. now owns 185,845 shares of the company’s stock valued at $3,206,000 after acquiring an additional 3,375 shares in the last quarter. Invesco Ltd. lifted its position in shares of Funko by 257.8% in the first quarter. Invesco Ltd. now owns 171,839 shares of the company’s stock valued at $2,965,000 after acquiring an additional 123,818 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Funko in the first quarter valued at approximately $2,427,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Funko by 456.1% in the first quarter. JPMorgan Chase & Co. now owns 57,662 shares of the company’s stock valued at $995,000 after acquiring an additional 47,293 shares in the last quarter. 66.08% of the stock is owned by institutional investors and hedge funds.

About Funko

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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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.