Funko (NASDAQ:FNKO) Earns Buy Rating from DA Davidson

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 price objective on the stock. DA Davidson’s target price indicates a potential upside of 19.49% from the company’s previous close.

A number of other research analysts have also recently weighed in on FNKO. 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. B. Riley boosted their price target 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.

Funko Stock Performance

NASDAQ FNKO opened at $13.39 on Thursday. 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 company has a market cap of $725.15 million, a P/E ratio of -27.90 and a beta of 1.22. The stock has a 50-day moving average of $11.67 and a two-hundred day moving average of $10.85. Funko has a 1-year low of $5.36 and a 1-year high of $13.89.

Insider Transactions at Funko

In other Funko news, 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 sale, the director now directly owns 11,613 shares in the company, valued at $120,775.20. This trade represents a 89.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tracy D. Daw sold 14,650 shares of Funko stock in a transaction dated Friday, December 20th. The stock was 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 of the company’s stock, valued at $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position 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. Franklin Resources Inc. acquired a new stake in shares of Funko during the third quarter worth about $231,000. Barclays PLC lifted its holdings in shares of Funko by 278.5% in the 3rd quarter. Barclays PLC now owns 40,972 shares of the company’s stock valued at $501,000 after purchasing an additional 30,147 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Funko by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 807,760 shares of the company’s stock valued at $9,873,000 after purchasing an additional 13,002 shares during the period. Finally, XTX Topco Ltd boosted its position in shares of Funko by 203.4% in the 3rd quarter. XTX Topco Ltd now owns 35,560 shares of the company’s stock valued at $435,000 after purchasing an additional 23,840 shares during the period. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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.