Funko (NASDAQ:FNKO) Shares Gap Down – What’s Next?

Funko, Inc. (NASDAQ:FNKO) gapped down before the market opened on Friday . The stock had previously closed at $12.22, but opened at $11.25. Funko shares last traded at $10.66, with a volume of 160,116 shares traded.

Analyst Ratings Changes

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

Funko Stock Performance

The stock has a market cap of $603.05 million, a price-to-earnings ratio of -12.85 and a beta of 1.21. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average is $11.60 and its 200-day moving average is $9.92.

Funko (NASDAQ:FNKO) last posted its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $247.70 million for the quarter, compared to analyst estimates of $231.04 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Funko, Inc. will post -0.21 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael C. Lunsford sold 5,900 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $9.55, for a total transaction of $56,345.00. Following the sale, the director now directly owns 98,974 shares in the company, valued at approximately $945,201.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Michael C. Lunsford sold 7,361 shares of Funko stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total transaction of $88,479.22. Following the sale, the director now directly owns 108,613 shares of the company’s stock, valued at approximately $1,305,528.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael C. Lunsford sold 5,900 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $9.55, for a total value of $56,345.00. Following the completion of the transaction, the director now directly owns 98,974 shares of the company’s stock, valued at $945,201.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,805 shares of company stock worth $415,169 over the last quarter. 4.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Funko

Several hedge funds and other institutional investors have recently bought and sold shares of FNKO. GSA Capital Partners LLP acquired a new stake in shares of Funko during the first quarter worth approximately $656,000. Assenagon Asset Management S.A. acquired a new stake in shares of Funko in the 2nd quarter valued at about $6,996,000. Massachusetts Financial Services Co. MA lifted its position in shares of Funko by 21.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after purchasing an additional 619,114 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Funko in the second quarter worth about $1,138,000. Finally, Swiss National Bank increased its holdings in Funko by 12.7% in the first quarter. Swiss National Bank now owns 64,700 shares of the company’s stock valued at $404,000 after buying an additional 7,300 shares during the last quarter. 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.