Point72 Asset Management L.P. Invests $287,000 in Funko, Inc. (NASDAQ:FNKO)

Point72 Asset Management L.P. acquired a new position in shares of Funko, Inc. (NASDAQ:FNKO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,453 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNKO. California State Teachers Retirement System lifted its position in Funko by 4.5% during the 1st quarter. California State Teachers Retirement System now owns 33,179 shares of the company’s stock worth $207,000 after acquiring an additional 1,414 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Funko during the 2nd quarter worth about $25,000. Price T Rowe Associates Inc. MD boosted its stake in Funko by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company’s stock valued at $246,000 after purchasing an additional 2,689 shares during the period. Rhumbline Advisers grew its holdings in Funko by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after buying an additional 4,475 shares during the last quarter. Finally, Olympiad Research LP increased its position in Funko by 40.3% in the 3rd quarter. Olympiad Research LP now owns 23,532 shares of the company’s stock worth $288,000 after buying an additional 6,756 shares during the period. 99.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FNKO shares. B. Riley raised their price objective on shares of Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Stifel Nicolaus raised their price objective on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson restated a “buy” rating and set a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th.

Insider Buying and Selling at Funko

In other news, Director Michael C. Lunsford sold 97,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $10.40, for a total value of $1,008,800.00. Following the sale, the director now owns 11,613 shares in the company, valued at approximately $120,775.20. The trade was a 89.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew David Oddie sold 10,800 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the sale, the insider now owns 40,372 shares of the company’s stock, valued at $485,675.16. This trade represents a 21.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,805 shares of company stock valued at $1,246,661. 4.81% of the stock is currently owned by corporate insiders.

Funko Price Performance

Shares of Funko stock opened at $12.16 on Friday. The firm has a market cap of $658.59 million, a P/E ratio of -25.33 and a beta of 1.22. The firm’s 50-day simple moving average is $11.58 and its 200-day simple moving average is $10.55. Funko, Inc. has a twelve month low of $5.36 and a twelve month high of $12.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96.

Funko 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.