Funko (NASDAQ:FNKO) Price Target Lowered to $48.00 at DA Davidson

Funko (NASDAQ:FNKOGet Rating) had its price objective reduced by DA Davidson from $50.00 to $48.00 in a research report sent to investors on Friday, MarketBeat reports. They currently have a buy rating on the stock.

Separately, JPMorgan Chase & Co. upgraded Funko from a neutral rating to an overweight rating and upped their target price for the stock from $25.00 to $28.00 in a report on Thursday, June 23rd.

Funko Stock Performance

Shares of Funko stock opened at $21.81 on Friday. 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 stock’s fifty day moving average price is $23.06 and its 200-day moving average price is $19.53. The firm has a market cap of $1.09 billion, a P/E ratio of 20.38, a P/E/G ratio of 0.76 and a beta of 1.91. Funko has a 12 month low of $15.28 and a 12 month high of $27.79.

Funko (NASDAQ:FNKOGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Funko had a net margin of 3.92% and a return on equity of 15.91%. The business had revenue of $315.72 million for the quarter, compared to the consensus estimate of $292.63 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, equities research analysts expect that Funko will post 1.68 earnings per share for the current fiscal year.

Insider Transactions at Funko

In other news, CEO Andrew Mark Perlmutter sold 41,733 shares of the business’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $23.76, for a total value of $991,576.08. Following the completion of the transaction, the chief executive officer now directly owns 94,061 shares of the company’s stock, valued at approximately $2,234,889.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Andrew Mark Perlmutter sold 41,733 shares of the company’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $23.76, for a total transaction of $991,576.08. Following the transaction, the chief executive officer now directly owns 94,061 shares of the company’s stock, valued at approximately $2,234,889.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth R. Brotman sold 4,720 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $21.00, for a total value of $99,120.00. Following the transaction, the director now directly owns 1,180 shares in the company, valued at $24,780. The disclosure for this sale can be found here. In the last three months, insiders sold 55,148 shares of company stock valued at $1,288,842. Corporate insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its position in Funko by 139.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 120,630 shares of the company’s stock valued at $2,692,000 after buying an additional 70,246 shares in the last quarter. Victory Capital Management Inc. increased its position in Funko by 625.6% during the 2nd quarter. Victory Capital Management Inc. now owns 878,115 shares of the company’s stock valued at $19,600,000 after buying an additional 757,101 shares in the last quarter. SG Americas Securities LLC acquired a new position in Funko during the 2nd quarter valued at about $177,000. Allspring Global Investments Holdings LLC grew its stake in Funko by 3.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 36,573 shares of the company’s stock valued at $816,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new stake in Funko during the 2nd quarter valued at about $2,245,000. 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.

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