Funko, Inc. (NASDAQ:FNKO) Sees Significant Decrease in Short Interest

Funko, Inc. (NASDAQ:FNKO - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,230,000 shares, a drop of 21.0% from the March 15th total of 4,090,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is currently 3.2 days. Currently, 9.1% of the company's shares are short sold.

Analyst Ratings Changes

FNKO has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on Funko from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. DA Davidson upgraded Funko to a "strong-buy" rating in a research note on Monday, April 14th.

Insider Transactions at Funko

In other news, insider Andrew David Oddie sold 3,867 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,200 shares of the company's stock, valued at approximately $205,784. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tracy D. Daw sold 18,608 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total transaction of $132,861.12. Following the sale, the insider now directly owns 26,332 shares in the company, valued at approximately $188,010.48. The trade was a 41.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,959 shares of company stock worth $227,640 over the last ninety days. Company insiders own 4.81% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FNKO. Nomura Holdings Inc. lifted its stake in Funko by 19.8% during the fourth quarter. Nomura Holdings Inc. now owns 2,452,923 shares of the company's stock worth $32,845,000 after purchasing an additional 404,849 shares during the last quarter. Vanguard Group Inc. raised its holdings in Funko by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,958,331 shares of the company's stock worth $26,222,000 after purchasing an additional 50,877 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Funko by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,963 shares of the company's stock worth $20,688,000 after buying an additional 234,981 shares during the last quarter. Marshall Wace LLP grew its position in shares of Funko by 384.3% in the 4th quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock valued at $20,653,000 after buying an additional 1,223,939 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Funko by 952.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company's stock worth $8,475,000 after acquiring an additional 1,118,090 shares in the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.

Funko Stock Performance

Shares of FNKO stock opened at $4.37 on Friday. The company has a market cap of $238.32 million, a P/E ratio of -9.10 and a beta of 0.75. The firm has a fifty day moving average price of $8.41 and a 200 day moving average price of $11.00. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Funko has a 12 month low of $3.90 and a 12 month high of $14.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.