Funko (NASDAQ:FNKO) Shares Gap Down – Here’s Why

Shares of Funko, Inc. (NASDAQ:FNKO) gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

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

Funko Stock Down 9.3 %

The company has a market capitalization of $597.66 million, a P/E ratio of -12.95 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 has a 50 day moving average price of $11.59 and a 200 day moving average price of $9.86.

Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.25. The company had revenue of $247.70 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.53) earnings per share. On average, research analysts anticipate that Funko, Inc. will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Funko

In related news, Director Michael C. Lunsford sold 5,900 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $945,201.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Funko news, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 6,362 shares in the company, valued at approximately $76,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael C. Lunsford sold 5,900 shares of the business’s 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 in the company, valued at $945,201.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,805 shares of company stock worth $415,169. 4.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Funko

A number of hedge funds have recently added to or reduced their stakes in FNKO. Quest Partners LLC acquired a new stake in shares of Funko during the 2nd quarter worth approximately $25,000. Paloma Partners Management Co acquired a new stake in Funko in the first quarter worth $67,000. EntryPoint Capital LLC bought a new stake in Funko in the first quarter valued at $73,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Funko during the second quarter valued at about $121,000. Finally, SG Americas Securities LLC bought a new position in shares of Funko during the 3rd quarter worth about $136,000. 99.15% of the stock is currently owned by 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.