JPMorgan Chase & Co. Grows Holdings in Funko, Inc. $FNKO

JPMorgan Chase & Co. grew its position in Funko, Inc. (NASDAQ:FNKO) by 48.9% in the third quarter, HoldingsChannel reports. The fund owned 1,340,267 shares of the company’s stock after acquiring an additional 439,907 shares during the quarter. JPMorgan Chase & Co.’s holdings in Funko were worth $4,611,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FNKO. Brown Brothers Harriman & Co. purchased a new position in shares of Funko in the 3rd quarter valued at about $86,000. PharVision Advisers LLC purchased a new position in Funko during the third quarter worth approximately $126,000. Verition Fund Management LLC acquired a new stake in Funko in the third quarter valued at approximately $156,000. Sei Investments Co. acquired a new stake in Funko in the second quarter valued at approximately $167,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Funko in the third quarter valued at approximately $194,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Trading Up 1.6%

Shares of FNKO stock opened at $3.25 on Friday. The stock’s fifty day moving average is $4.05 and its two-hundred day moving average is $3.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 1.19. The firm has a market capitalization of $180.51 million, a P/E ratio of -2.62 and a beta of 0.57. Funko, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.51.

Funko (NASDAQ:FNKO) last released its earnings results on Thursday, March 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $273.10 million during the quarter, compared to analyst estimates of $260.71 million. Funko had a negative net margin of 7.42% and a negative return on equity of 25.96%. Research analysts expect that Funko, Inc. will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Funko from $3.50 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, March 16th. Truist Financial set a $6.50 price target on shares of Funko in a report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Funko has a consensus rating of “Hold” and a consensus price target of $5.83.

Insider Transactions at Funko

In related news, insider Tracy D. Daw sold 12,793 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $3.65, for a total transaction of $46,694.45. Following the completion of the sale, the insider owned 47,016 shares of the company’s stock, valued at approximately $171,608.40. This represents a 21.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 44,210 shares of company stock worth $173,146. 3.27% of the stock is currently owned by corporate insiders.

Funko Profile

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.