Funko (NASDAQ:FNKO) Stock Price Down 4% – Here’s Why

Funko, Inc. (NASDAQ:FNKO)’s share price traded down 4% during mid-day trading on Monday . The stock traded as low as $11.71 and last traded at $11.74. 109,488 shares were traded during trading, a decline of 79% from the average session volume of 518,752 shares. The stock had previously closed at $12.23.

Analyst Upgrades and Downgrades

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

Funko Trading Up 0.2 %

The stock has a market capitalization of $645.87 million, a price-to-earnings ratio of -4.79 and a beta of 1.20. 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 company has a fifty day moving average of $10.92 and a two-hundred day moving average of $9.19.

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

Insider Transactions at Funko

In other news, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider now directly owns 6,362 shares in the company, valued at $76,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider now owns 6,362 shares of the company’s stock, valued at approximately $76,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $88,479.22. Following the sale, the director now directly owns 108,613 shares in the company, valued at approximately $1,305,528.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,805 shares of company stock worth $415,169. Company insiders own 4.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Planning bought a new stake in Funko in the third quarter valued at about $240,000. SG Americas Securities LLC acquired a new stake in Funko during the third quarter valued at approximately $136,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Funko during the second quarter valued at approximately $121,000. Marshall Wace LLP grew its stake in shares of Funko by 160.1% in the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after purchasing an additional 654,359 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Funko in the 2nd quarter worth approximately $1,138,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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.