Franklin Resources Inc. Invests $231,000 in Funko, Inc. (NASDAQ:FNKO)

Franklin Resources Inc. acquired a new stake in Funko, Inc. (NASDAQ:FNKO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,453 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Funko by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company’s stock worth $1,111,000 after buying an additional 10,034 shares during the period. Rhumbline Advisers lifted its holdings in shares of Funko by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock worth $529,000 after acquiring an additional 4,475 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Funko during the 2nd quarter worth approximately $388,000. Quest Partners LLC acquired a new stake in Funko in the 2nd quarter valued at approximately $25,000. Finally, Chesapeake Capital Corp IL purchased a new stake in Funko in the second quarter valued at approximately $336,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Funko

In other Funko news, Director Michael C. Lunsford sold 97,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $10.40, for a total value of $1,008,800.00. Following the sale, the director now directly owns 11,613 shares of the company’s stock, valued at approximately $120,775.20. This represents a 89.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 14,650 shares of Funko stock in a transaction on Friday, December 20th. The stock was sold at an average price of $12.55, for a total transaction of $183,857.50. Following the sale, the insider now directly owns 6,362 shares of the company’s stock, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.81% of the stock is currently owned by company insiders.

Funko Stock Performance

Shares of FNKO stock opened at $13.39 on Thursday. The firm has a 50 day moving average of $11.67 and a two-hundred day moving average of $10.85. The stock has a market capitalization of $725.15 million, a PE ratio of -27.90 and a beta of 1.22. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Funko, Inc. has a 52 week low of $5.36 and a 52 week high of $13.89.

Analyst Upgrades and Downgrades

FNKO has been the subject of several research analyst reports. DA Davidson restated a “buy” rating and set a $16.00 price target on shares of Funko in a research report on Thursday, November 14th. Stifel Nicolaus raised their target price on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, B. Riley lifted their target price on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th.

About Funko

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 media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.