Funko Sees Unusually Large Options Volume (NASDAQ:FNKO)

Funko, Inc. (NASDAQ:FNKO) was the target of some unusual options trading activity on Thursday. Stock investors purchased 43,320 put options on the company. This is an increase of approximately 6,133% compared to the average volume of 695 put options.

Funko Price Performance

Shares of NASDAQ:FNKO opened at $10.37 on Friday. The company’s fifty day moving average price is $13.36 and its 200-day moving average price is $12.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The firm has a market capitalization of $561.60 million, a price-to-earnings ratio of -21.60 and a beta of 0.94. Funko has a one year low of $5.36 and a one year high of $14.65.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FNKO. Stifel Nicolaus increased their price objective on Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. DA Davidson reaffirmed a “buy” rating and issued a $16.00 price target on shares of Funko in a report on Thursday, January 2nd.

Insider Buying and Selling at Funko

In other news, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $12.55, for a total value 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 represents a 69.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew David Oddie sold 27,712 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.67, for a total transaction of $378,823.04. Following the completion of the transaction, the insider now owns 20,186 shares of the company’s stock, valued at $275,942.62. This trade represents a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,079 shares of company stock valued at $572,769 in the last 90 days. 4.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Funko

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in Funko in the 4th quarter worth approximately $599,000. Wolverine Trading LLC purchased a new position in shares of Funko during the fourth quarter worth approximately $489,000. Vident Advisory LLC lifted its holdings in shares of Funko by 48.8% in the 4th quarter. Vident Advisory LLC now owns 39,833 shares of the company’s stock worth $533,000 after acquiring an additional 13,057 shares during the last quarter. State of Wyoming lifted its holdings in shares of Funko by 115.2% in the 4th quarter. State of Wyoming now owns 22,731 shares of the company’s stock worth $304,000 after acquiring an additional 12,169 shares during the last quarter. Finally, Man Group plc purchased a new stake in shares of Funko in the 4th quarter valued at $293,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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.