DA Davidson Reiterates “Buy” Rating for Funko (NASDAQ:FNKO)

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 54.44% from the stock’s current price. DA Davidson also issued estimates for Funko’s Q4 2024 earnings at ($0.03) EPS.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. B. Riley raised their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 12th.

Funko Stock Up 2.7 %

FNKO stock traded up $0.27 during trading hours on Thursday, reaching $10.36. 975,708 shares of the stock were exchanged, compared to its average volume of 527,660. The firm’s 50-day moving average is $11.62 and its 200-day moving average is $10.01. The company has a market cap of $558.82 million, a price-to-earnings ratio of -21.58 and a beta of 1.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.59. Funko has a 12 month low of $5.36 and a 12 month high of $12.61.

Insiders Place Their Bets

In related news, Director Michael C. Lunsford sold 7,361 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total value of $88,479.22. Following the completion of the sale, the director now directly owns 108,613 shares in the company, valued at approximately $1,305,528.26. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.00, for a total value of $120,000.00. Following the sale, the insider now owns 6,362 shares of the company’s stock, valued at $76,344. The trade was a 61.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,805 shares of company stock worth $357,861 over the last three months. Insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in Funko during the second quarter worth $25,000. Walleye Capital LLC bought a new position in shares of Funko in the 3rd quarter valued at $129,000. Paloma Partners Management Co bought a new position in shares of Funko in the 1st quarter valued at $67,000. SG Americas Securities LLC bought a new position in shares of Funko in the 3rd quarter valued at $136,000. Finally, EntryPoint Capital LLC bought a new position in shares of Funko in the 1st quarter valued at $73,000. 99.15% of the stock is currently owned by institutional investors.

Funko Company 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.