Funko (NASDAQ:FNKO) Hits New 52-Week High – Time to Buy?

Funko, Inc. (NASDAQ:FNKO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.89 and last traded at $13.39, with a volume of 1444865 shares changing hands. The stock had previously closed at $13.65.

Analysts Set New Price Targets

Several equities research analysts recently commented on FNKO shares. B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. DA Davidson reiterated a “buy” rating and issued a $16.00 price target on shares of Funko in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd.

Funko Stock Performance

The company has a market cap of $736.52 million, a P/E ratio of -28.33 and a beta of 1.22. 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 business has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $10.87.

Insider Transactions 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 transaction of $1,008,800.00. Following the completion of the sale, the director now owns 11,613 shares of the company’s stock, valued at $120,775.20. The trade was a 89.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 14,650 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $12.55, for a total value of $183,857.50. Following the completion of the sale, the insider now 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. Company insiders own 4.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in Funko by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company’s stock worth $1,111,000 after acquiring an additional 10,034 shares during the period. Rhumbline Advisers lifted its stake in shares of Funko by 9.0% during 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 in the last quarter. Los Angeles Capital Management LLC bought a new position in Funko in the 2nd quarter worth $388,000. Quest Partners LLC purchased a new stake in Funko in the 2nd quarter worth $25,000. Finally, Chesapeake Capital Corp IL bought a new stake in Funko during the second quarter valued at about $336,000. 99.15% of the stock is 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.