Massachusetts Financial Services Co. MA Cuts Stock Holdings in Funko, Inc. (NASDAQ:FNKO)

Massachusetts Financial Services Co. MA decreased its position in Funko, Inc. (NASDAQ:FNKO) by 18.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,889,572 shares of the company’s stock after selling 656,464 shares during the quarter. Massachusetts Financial Services Co. MA owned 5.36% of Funko worth $35,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FNKO. Quest Partners LLC purchased a new stake in Funko during the 2nd quarter valued at $25,000. Paloma Partners Management Co purchased a new stake in shares of Funko in the 1st quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Funko during the 2nd quarter worth $121,000. SG Americas Securities LLC purchased a new position in shares of Funko during the third quarter valued at $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Funko during the third quarter valued at $196,000. Institutional investors own 99.15% of the company’s stock.

Insider Activity at Funko

In other Funko news, Director Michael C. Lunsford sold 97,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 11,613 shares in the company, valued at approximately $120,775.20. This represents a 89.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction 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 directly owns 6,362 shares of the company’s stock, valued at approximately $76,344. This represents a 61.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,805 shares of company stock valued at $1,366,661 in the last ninety days. Corporate insiders own 4.81% of the company’s stock.

Funko Price Performance

NASDAQ FNKO opened at $10.61 on Monday. Funko, Inc. has a 12-month low of $5.36 and a 12-month high of $12.61. The firm’s fifty day simple moving average is $11.61 and its two-hundred day simple moving average is $10.21. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $574.64 million, a P/E ratio of -22.10 and a beta of 1.21.

Wall Street Analysts Forecast Growth

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

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.