Funko (NASDAQ:FNKO) Stock Price Expected to Rise, DA Davidson Analyst Says

Funko (NASDAQ:FNKO - Get Free Report) had its price target raised by research analysts at DA Davidson from $13.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 43.11% from the stock's current price.

Other analysts have also recently issued research reports about the stock. B. Riley increased their price target on shares of Funko from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Stifel Nicolaus raised their price objective on Funko from $9.00 to $10.50 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd.

Funko Price Performance

Shares of NASDAQ:FNKO traded down $1.04 during midday trading on Friday, hitting $11.18. The company had a trading volume of 2,031,721 shares, compared to its average volume of 516,566. Funko has a twelve month low of $5.36 and a twelve month high of $12.61. The stock has a market cap of $603.05 million, a price-to-earnings ratio of -12.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.59. The business's 50-day simple moving average is $11.59 and its 200-day simple moving average is $9.86.

Funko (NASDAQ:FNKO - Get Free Report) last announced 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. Funko had a negative net margin of 4.06% and a negative return on equity of 4.69%. The firm had revenue of $247.70 million for the quarter, compared to analysts' expectations of $231.04 million. During the same quarter in the previous year, the company posted ($0.53) EPS. The company's revenue was up 3.2% compared to the same quarter last year. On average, research analysts predict that Funko will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Andrew David Oddie sold 10,800 shares of Funko stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $12.03, for a total value of $129,924.00. Following the completion of the transaction, the insider now owns 40,372 shares in the company, valued at approximately $485,675.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Andrew David Oddie sold 10,800 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $12.03, for a total value of $129,924.00. Following the sale, the insider now owns 40,372 shares of the company's stock, valued at $485,675.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Lunsford sold 7,361 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total transaction of $88,479.22. Following the transaction, the director now owns 108,613 shares of the company's stock, valued at $1,305,528.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,805 shares of company stock worth $415,169 over the last three months. Company insiders own 4.81% of the company's stock.

Institutional Trading of Funko

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in shares of Funko by 21.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company's stock worth $34,609,000 after acquiring an additional 619,114 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Funko by 160.1% during the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company's stock worth $10,375,000 after buying an additional 654,359 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Funko during the 2nd quarter worth approximately $6,996,000. American Century Companies Inc. boosted its holdings in shares of Funko by 81.1% in the 2nd quarter. American Century Companies Inc. now owns 250,121 shares of the company's stock valued at $2,441,000 after buying an additional 112,007 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Funko in the 2nd quarter valued at $1,138,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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.