Funko, Inc. (NASDAQ:FNKO) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Funko, Inc. (NASDAQ:FNKO) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,833 shares of the company’s stock after purchasing an additional 10,034 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of Funko worth $1,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Funko during the fourth quarter worth approximately $34,000. Paloma Partners Management Co bought a new position in Funko during the 1st quarter valued at $67,000. EntryPoint Capital LLC acquired a new position in Funko during the 1st quarter worth $73,000. RPO LLC bought a new stake in shares of Funko in the 4th quarter worth about $86,000. Finally, Virtu Financial LLC acquired a new stake in shares of Funko in the 4th quarter valued at about $177,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Funko

In other news, Director Michael C. Lunsford sold 5,900 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $9.55, for a total transaction of $56,345.00. Following the completion of the transaction, the director now directly owns 98,974 shares in the company, valued at $945,201.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Funko news, Director Michael C. Lunsford sold 5,900 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $9.55, for a total transaction of $56,345.00. Following the transaction, the director now owns 98,974 shares of the company’s stock, valued at approximately $945,201.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tracy D. Daw sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $9.33, for a total value of $186,600.00. Following the sale, the insider now directly owns 16,362 shares in the company, valued at approximately $152,657.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,037,644 shares of company stock worth $18,183,366. 4.81% of the stock is owned by company insiders.

Funko Stock Performance

Shares of FNKO stock opened at $11.64 on Friday. The company has a market cap of $623.89 million, a P/E ratio of -4.64 and a beta of 1.18. The business has a 50 day moving average of $9.92 and a two-hundred day moving average of $8.47. Funko, Inc. has a 52 week low of $5.36 and a 52 week high of $12.04. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Funko (NASDAQ:FNKO) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.25. The business had revenue of $247.70 million during the quarter, compared to analyst estimates of $231.04 million. Funko had a negative return on equity of 4.69% and a negative net margin of 4.06%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.53) EPS. As a group, analysts anticipate that Funko, Inc. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

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

Funko Profile

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.