Funko (NASDAQ:FNKO) Shares Down 10.3% – Here’s Why

Funko, Inc. (NASDAQ:FNKO) shares traded down 10.3% during mid-day trading on Thursday . The company traded as low as $10.24 and last traded at $10.09. 579,745 shares changed hands during trading, a decline of 17% from the average session volume of 701,800 shares. The stock had previously closed at $11.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $16.00 target price on shares of Funko in a research report on Thursday, January 2nd. Stifel Nicolaus lifted their price objective on shares of Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, January 3rd.

Funko Price Performance

The stock has a market capitalization of $561.60 million, a PE ratio of -21.60 and a beta of 0.94. The firm’s 50 day simple moving average is $13.41 and its 200 day simple moving average is $12.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64.

Funko (NASDAQ:FNKO) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Funko had a negative net margin of 2.29% and a negative return on equity of 3.44%. As a group, equities analysts forecast that Funko, Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Funko

In other news, insider Andrew David Oddie sold 27,712 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.67, for a total transaction of $378,823.04. Following the completion of the sale, the insider now directly owns 20,186 shares in the company, valued at approximately $275,942.62. This represents a 57.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tracy D. Daw sold 14,650 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $12.55, for a total value of $183,857.50. Following the transaction, the insider now owns 6,362 shares in the company, valued at approximately $79,843.10. This represents a 69.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,079 shares of company stock worth $572,769. 4.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Funko

Several hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. increased its position in Funko by 19.8% during the 4th quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company’s stock valued at $32,845,000 after purchasing an additional 404,849 shares during the period. Vanguard Group Inc. lifted its stake in shares of Funko by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company’s stock valued at $26,222,000 after purchasing an additional 50,877 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Funko by 17.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,963 shares of the company’s stock valued at $20,688,000 after purchasing an additional 234,981 shares in the last quarter. Marshall Wace LLP grew its stake in Funko by 384.3% in the fourth quarter. Marshall Wace LLP now owns 1,542,440 shares of the company’s stock worth $20,653,000 after purchasing an additional 1,223,939 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in Funko during the fourth quarter valued at $13,783,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

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.