PDT Partners LLC Lowers Position in Funko, Inc. (NASDAQ:FNKO)

PDT Partners LLC reduced its holdings in Funko, Inc. (NASDAQ:FNKO) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,429 shares of the company’s stock after selling 7,524 shares during the quarter. PDT Partners LLC owned 0.14% of Funko worth $934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FNKO. Assenagon Asset Management S.A. purchased a new position in Funko in the 2nd quarter worth approximately $6,996,000. Marshall Wace LLP increased its stake in Funko by 160.1% in the second quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after acquiring an additional 654,359 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Funko by 21.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock valued at $34,609,000 after purchasing an additional 619,114 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Funko during the second quarter valued at about $1,138,000. Finally, American Century Companies Inc. lifted its stake in Funko by 81.1% during the second quarter. American Century Companies Inc. now owns 250,121 shares of the company’s stock worth $2,441,000 after purchasing an additional 112,007 shares during the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Price Performance

FNKO opened at $11.75 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $11.62 and its 200 day simple moving average is $10.37. The firm has a market cap of $636.38 million, a price-to-earnings ratio of -24.48 and a beta of 1.21. Funko, Inc. has a 1 year low of $5.36 and a 1 year high of $12.61.

Insider Buying and Selling

In related 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 owns 6,362 shares in the company, valued at $76,344. This represents a 61.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Lunsford sold 97,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $10.40, for a total value of $1,008,800.00. Following the completion of the sale, the director now directly owns 11,613 shares of the company’s stock, valued at $120,775.20. The trade was a 89.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,805 shares of company stock valued at $1,366,661 over the last three months. 4.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FNKO has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. B. Riley upped their price objective on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, DA Davidson reaffirmed a “buy” rating and set a $16.00 target price on shares of Funko in a report on Thursday, November 14th.

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.