Funko, Inc. (NASDAQ:FNKO) Brief Interest Update
Funko, Inc. (NASDAQ:FNKO – Get Rating) saw significant growth in short-term interest during the month of August. As of August 31, there was short interest totaling 2,140,000 shares, a growth of 20.2% from the total of 1,780,000 shares as of August 15. Approximately 7.8% of the company’s shares are sold short. Based on an average daily trading volume of 832,200 shares, the short-term interest rate ratio is currently 2.6 days.
Insiders place their bets
In other Funko news, CRO Andrew David Oddie sold 1,187 shares of the company in a trade dated Saturday, July 30. The stock was sold at an average price of $26.30, for a total value of $31,218.10. Following the completion of the sale, the executive now owns 25,903 shares of the company, valued at $681,248.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. In related news, CEO Andrew Mark Perlmutter sold 41,733 shares of the company in a trade dated Tuesday, June 28. The stock was sold at an average price of $23.76, for a total transaction of $991,576.08. Following completion of the transaction, the CEO now owns 94,061 shares of the company, valued at approximately $2,234,889.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CRO Andrew David Oddie sold 1,187 shares of the company in a trade dated Saturday, July 30. The stock was sold at an average price of $26.30, for a total value of $31,218.10. As a result of the transaction, the executive now directly owns 25,903 shares of the company, valued at approximately $681,248.90. The disclosure of this sale can be found here. Insiders sold 52,429 shares of the company valued at $1,237,741 during the last quarter. Insiders hold 12.56% of the shares of the company.
Institutional investors weigh in on Funko
Large investors have recently changed their stock holdings. Northern Trust Corp increased its position in Funko by 1.4% during the fourth quarter. Northern Trust Corp now owns 256,733 shares of the company worth $4,827,000 after acquiring 3,431 additional shares in the last quarter. First Trust Advisors LP increased its position in Funko by 40.8% during the 4th quarter. First Trust Advisors LP now owns 52,658 shares of the company worth $990,000 after acquiring 15,248 additional shares in the last quarter. Dimensional Fund Advisors LP increased its position in Funko by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 446,607 shares of the company worth $8,397,000 after acquiring an additional 70,286 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Funko by 28.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 7,335 shares in the company worth $138,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Funko by 257.0% during the 4th quarter. Renaissance Technologies LLC now owns 267,543 shares of the company worth $5,030,000 after acquiring an additional 192,600 shares in the last quarter. 80.80% of the shares are currently held by institutional investors.
A Wall Street analyst gives his opinion
Several research firms have recently weighed in on FNKO. Bank of America raised its price target on Funko from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Goldman Sachs Group raised its price target on Funko from $23.00 to $25.50 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded Funko from a “neutral” to an “overweight” rating and raised its price target for the company from $25.00 to $28.00 in a Thursday 23 research note. June. Finally, DA Davidson lowered his price target on Funko from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday August 5th. One investment analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.25.
Funko Awards Performance
Shares of FNKO were down $1.18 during Friday trading hours, hitting $22.55. The company had a trading volume of 878,771 shares, compared to an average volume of 634,499. Funko has a 12-month low of $15.28 and a 12-month high of $27.79. The company has a market capitalization of $1.13 billion, a price-earnings ratio of 21.07, a PEG ratio of 0.59 and a beta of 1.94. The company’s fifty-day moving average is $23.07 and its 200-day moving average is $20.58. The company has a debt ratio of 0.35, a quick ratio of 0.76 and a current ratio of 1.37.
Funko (NASDAQ:FNKO – Get Rating) last released its quarterly earnings data on Thursday, August 4. The company reported earnings per share of $0.20 for the quarter, beating the consensus estimate of $0.17 by $0.03. Funko had a return on equity of 15.64% and a net margin of 3.92%. The company posted revenue of $315.72 million for the quarter, versus analyst estimates of $292.63 million. During the same period a year earlier, the company posted EPS of $0.35. The company’s revenue increased by 33.7% compared to the same quarter last year. On average, sell-side analysts expect Funko to post 1.72 EPS for the current fiscal year.
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Funko, Inc, a pop culture consumer products company, designs, sources and distributes licensed pop culture products in the United States, Europe and worldwide. The company provides vinyl, blind-packed miniatures, and action figures; fashion accessories, including bags, backpacks and wallets; clothing, such as t-shirts and hats; board games, plush products and accessories, such as key chains, pens and pins; household items, including glasses and other home accessories, non-fungible tokens and others.
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