Funko, Inc. (NASDAQ:FNKO) Short Interest Update

Funko, Inc. (NASDAQ:FNKO) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 4,820,000 shares, a decline of 10.7% from the August 31st total of 5,400,000 shares. Based on an average daily volume of 565,200 shares, the days-to-cover ratio is currently 8.5 days. Approximately 14.0% of the shares of the stock are sold short.

Insider Buying and Selling at Funko

In other news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total value of $17,800,000.00. Following the transaction, the insider now directly owns 5,129,838 shares in the company, valued at $45,655,558.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of Funko stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.90, for a total transaction of $17,800,000.00. Following the sale, the insider now owns 5,129,838 shares in the company, valued at $45,655,558.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael C. Lunsford sold 5,900 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $9.55, for a total transaction of $56,345.00. Following the transaction, the director now owns 98,974 shares of the company’s stock, valued at approximately $945,201.70. The disclosure for this sale can be found here. Insiders have sold 2,028,444 shares of company stock valued at $18,126,690 over the last 90 days. 4.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Funko

A number of large investors have recently made changes to their positions in FNKO. GSA Capital Partners LLP bought a new stake in Funko in the first quarter worth about $656,000. Bayberry Capital Partners LP raised its holdings in shares of Funko by 48.1% in the fourth quarter. Bayberry Capital Partners LP now owns 948,000 shares of the company’s stock worth $7,328,000 after buying an additional 308,000 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Funko during the 2nd quarter worth approximately $6,996,000. Working Capital Advisors UK Ltd. boosted its holdings in Funko by 4.6% during the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,129,838 shares of the company’s stock valued at $55,114,000 after acquiring an additional 310,639 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Funko by 21.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock valued at $34,609,000 after acquiring an additional 619,114 shares during the period. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Trading Up 3.0 %

Shares of FNKO stock opened at $12.22 on Tuesday. The company has a market cap of $654.98 million, a PE ratio of -4.87 and a beta of 1.18. Funko has a 1 year low of $5.36 and a 1 year high of $12.31. The stock’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $8.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.59.

Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.25. The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $231.04 million. Funko had a negative return on equity of 4.69% and a negative net margin of 4.06%. Funko’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.53) EPS. Research analysts predict that Funko will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

FNKO has been the subject of a number of research reports. B. Riley increased their price target on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. DA Davidson reiterated a “buy” rating and set a $12.00 target price on shares of Funko in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price target on shares of Funko from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th.

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.