Funko Sees Unusually High Options Volume (NASDAQ:FNKO)

Funko, Inc. (NASDAQ:FNKO) was the target of unusually large options trading on Thursday. Stock traders purchased 43,320 put options on the company. This is an increase of approximately 6,133% compared to the typical daily volume of 695 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FNKO shares. DA Davidson restated a “buy” rating and issued a $16.00 price target on shares of Funko in a research report on Thursday, January 2nd. Stifel Nicolaus boosted their target price on Funko from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, January 3rd.

Funko Stock Down 8.0 %

Shares of NASDAQ FNKO traded down $0.90 on Thursday, hitting $10.36. The company had a trading volume of 1,760,065 shares, compared to its average volume of 730,459. The business has a 50 day moving average of $13.41 and a two-hundred day moving average of $12.10. Funko has a 12-month low of $5.36 and a 12-month high of $14.65. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $560.79 million, a P/E ratio of -21.57 and a beta of 0.94.

Insiders Place Their Bets

In related news, insider Andrew David Oddie sold 27,712 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the transaction, the insider now owns 20,186 shares of the company’s stock, valued at $275,942.62. This represents a 57.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $12.55, for a total value of $183,857.50. Following the sale, the insider now directly owns 6,362 shares in the company, valued at $79,843.10. This trade represents a 69.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,079 shares of company stock valued at $572,769 in the last quarter. 4.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNKO. Marshall Wace LLP boosted its holdings in Funko by 384.3% during the fourth quarter. Marshall Wace LLP now owns 1,542,440 shares of the company’s stock worth $20,653,000 after buying an additional 1,223,939 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Funko during the 4th quarter worth about $13,783,000. JPMorgan Chase & Co. lifted its stake in Funko by 5,486.5% in the third quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company’s stock valued at $10,133,000 after acquiring an additional 814,357 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Funko by 123.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 817,638 shares of the company’s stock valued at $10,948,000 after acquiring an additional 451,806 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Funko by 19.8% in the 4th quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company’s stock worth $32,845,000 after acquiring an additional 404,849 shares during the period. 99.15% of the stock is owned by institutional investors and hedge funds.

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.