Funko (NASDAQ:FNKO) Director Charles Denson Purchases 72,992 Shares of Stock

Funko, Inc. (NASDAQ:FNKO) Director Charles Denson bought 72,992 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $6.85 per share, with a total value of $499,995.20. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Funko Trading Down 5.2%

NASDAQ:FNKO traded down $0.35 during trading hours on Wednesday, reaching $6.38. 677,000 shares of the stock were exchanged, compared to its average volume of 955,542. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $5.81 and a two-hundred day moving average of $4.91. Funko, Inc. has a twelve month low of $2.72 and a twelve month high of $7.04. The company has a market capitalization of $356.83 million, a price-to-earnings ratio of -159.46 and a beta of 0.93.

Funko (NASDAQ:FNKO) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.47. The business had revenue of $207.72 million during the quarter, compared to analysts’ expectations of $200.96 million. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%.

Hedge Funds Weigh In On Funko

A number of institutional investors and hedge funds have recently made changes to their positions in FNKO. Boothbay Fund Management LLC purchased a new stake in shares of Funko during the fourth quarter worth approximately $63,000. Engineers Gate Manager LP purchased a new position in Funko in the fourth quarter worth approximately $82,000. Brown Brothers Harriman & Co. acquired a new position in Funko during the 3rd quarter worth approximately $86,000. Odyssean LLC acquired a new position in Funko during the 4th quarter worth approximately $98,000. Finally, Jain Global LLC purchased a new stake in shares of Funko in the 4th quarter valued at approximately $123,000. 99.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FNKO shares. Wall Street Zen raised shares of Funko from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Seaport Research Partners assumed coverage on shares of Funko in a research note on Monday. They set a “buy” rating and a $8.00 target price on the stock. DA Davidson upped their target price on shares of Funko from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Funko in a report on Friday, July 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $6.75 price target on shares of Funko in a research note on Monday, August 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.08.

About Funko

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.