Funko, Inc. (NASDAQ:FNKO) Short Interest Update

Funko, Inc. (NASDAQ:FNKO) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 5,400,000 shares, a decline of 5.1% from the August 15th total of 5,690,000 shares. Based on an average daily trading volume, of 543,300 shares, the days-to-cover ratio is presently 9.9 days. Approximately 15.7% of the shares of the stock are sold short.

Insider Buying and Selling at Funko

In other news, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $120,000.00. Following the sale, the insider now directly owns 6,362 shares of the company’s stock, valued at $76,344. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $120,000.00. Following the transaction, the insider now owns 6,362 shares of the company’s stock, valued at $76,344. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total value of $17,800,000.00. Following the completion of the sale, the insider now owns 5,129,838 shares in the company, valued at approximately $45,655,558.20. The disclosure for this sale can be found here. Insiders sold 2,037,644 shares of company stock valued at $18,183,366 in the last quarter. 4.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Funko

A number of hedge funds and other institutional investors have recently modified their holdings of FNKO. Quest Partners LLC purchased a new position in Funko in the 2nd quarter worth approximately $25,000. Quarry LP bought a new position in shares of Funko in the fourth quarter worth approximately $34,000. Paloma Partners Management Co purchased a new position in shares of Funko in the first quarter worth $67,000. EntryPoint Capital LLC bought a new stake in Funko during the 1st quarter valued at $73,000. Finally, RPO LLC bought a new stake in Funko during the 4th quarter valued at $86,000. Institutional investors own 99.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FNKO. B. Riley raised their target price on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. DA Davidson restated a “buy” rating and set a $12.00 price objective on shares of Funko in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on shares of Funko from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th.

Funko Stock Up 1.5 %

Shares of NASDAQ FNKO opened at $11.52 on Thursday. The stock has a market capitalization of $617.46 million, a P/E ratio of -4.59 and a beta of 1.18. Funko has a one year low of $5.36 and a one year high of $12.04. The firm’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $8.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.59.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.25. Funko had a negative net margin of 4.06% and a negative return on equity of 4.69%. The company had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $231.04 million. During the same quarter last year, the company earned ($0.53) EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts expect that Funko will post -0.21 EPS for the current fiscal year.

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.