Archon Capital Management LLC Makes New Investment in Funko, Inc. (NASDAQ:FNKO)

Archon Capital Management LLC bought a new stake in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 187,500 shares of the company's stock, valued at approximately $2,511,000. Funko accounts for approximately 2.4% of Archon Capital Management LLC's portfolio, making the stock its 15th largest holding. Archon Capital Management LLC owned 0.35% of Funko at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNKO. JPMorgan Chase & Co. increased its stake in shares of Funko by 5,486.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock worth $10,133,000 after purchasing an additional 814,357 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Funko by 18.5% during the fourth quarter. American Century Companies Inc. now owns 680,231 shares of the company's stock worth $9,108,000 after purchasing an additional 106,037 shares in the last quarter. TBH Global Asset Management LLC bought a new stake in Funko during the fourth quarter worth about $2,748,000. Vanguard Group Inc. grew its position in Funko by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock valued at $26,222,000 after acquiring an additional 50,877 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Funko by 1,541.0% during the third quarter. FMR LLC now owns 57,649 shares of the company's stock worth $704,000 after acquiring an additional 54,136 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Funko news, insider Andrew David Oddie sold 3,867 shares of Funko stock in a transaction on Friday, March 7th. The shares were sold at an average price of $8.87, for a total value of $34,300.29. Following the transaction, the insider now directly owns 23,200 shares of the company's stock, valued at approximately $205,784. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Harinstein purchased 15,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $7.09 per share, with a total value of $106,350.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at $106,350. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 29,959 shares of company stock valued at $227,640 over the last 90 days. Corporate insiders own 4.81% of the company's stock.

Funko Trading Up 7.8 %

NASDAQ FNKO traded up $0.32 on Thursday, hitting $4.34. 742,381 shares of the stock were exchanged, compared to its average volume of 1,007,480. The stock has a fifty day moving average price of $8.79 and a two-hundred day moving average price of $11.11. The firm has a market capitalization of $236.41 million, a P/E ratio of -9.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. Funko, Inc. has a 52-week low of $3.90 and a 52-week high of $14.65.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FNKO shares. DA Davidson raised shares of Funko to a "strong-buy" rating in a research note on Monday. Stifel Nicolaus raised their price target on Funko from $11.00 to $12.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd.

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.