Funko (NASDAQ:FNKO) Hits New 52-Week High – Should You Buy?

Funko, Inc. (NASDAQ:FNKO)’s share price hit a new 52-week high on Tuesday . The company traded as high as $14.17 and last traded at $14.02, with a volume of 573052 shares trading hands. The stock had previously closed at $13.99.

Wall Street Analyst Weigh In

FNKO has been the subject of several research reports. B. Riley boosted their price objective on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Stifel Nicolaus boosted their price target on Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday. Finally, DA Davidson restated a “buy” rating and issued a $16.00 price objective on shares of Funko in a report on Thursday, January 2nd.

Funko Price Performance

The firm has a market capitalization of $759.32 million, a PE ratio of -29.21 and a beta of 1.22. The stock’s 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $10.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96.

Insider Buying and Selling

In related news, Director Michael C. Lunsford sold 97,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the completion of the sale, the director now directly owns 11,613 shares in the company, valued at approximately $120,775.20. This trade represents a 89.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew David Oddie sold 27,712 shares of Funko stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total transaction of $378,823.04. Following the transaction, the insider now directly owns 20,186 shares in the company, valued at $275,942.62. This trade represents a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,720 shares of company stock worth $1,576,493. 4.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of Funko in the 2nd quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Funko in the 2nd quarter valued at about $121,000. Walleye Capital LLC acquired a new position in Funko in the third quarter valued at about $129,000. SG Americas Securities LLC purchased a new position in Funko during the third quarter worth about $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Funko during the third quarter valued at about $196,000. 99.15% of the stock is currently owned by hedge funds and other 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.