Funko (NASDAQ:FNKO) Sets New 52-Week High - Here's Why

Funko, Inc. (NASDAQ:FNKO - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.89 and last traded at $13.39, with a volume of 1444865 shares changing hands. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Funko from $9.00 to $10.50 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. DA Davidson reaffirmed a "buy" rating and issued a $16.00 price target on shares of Funko in a research note on Thursday, November 14th. Finally, B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th.

Funko Stock Down 1.9 %

The firm has a market capitalization of $725.15 million, a price-to-earnings ratio of -27.90 and a beta of 1.22. The firm has a fifty day moving average price of $11.67 and a 200 day moving average price of $10.85. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44.

Insiders Place Their Bets

In other news, Director Michael C. Lunsford sold 97,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the transaction, the director now owns 11,613 shares of the company's stock, valued at $120,775.20. This represents a 89.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tracy D. Daw sold 14,650 shares of Funko stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $12.55, for a total value of $183,857.50. Following the completion of the sale, the insider now owns 6,362 shares of the company's stock, valued at approximately $79,843.10. The trade was a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.81% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FNKO. Bank of New York Mellon Corp grew its stake in shares of Funko by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company's stock worth $1,111,000 after purchasing an additional 10,034 shares during the period. Rhumbline Advisers grew its position in shares of Funko by 9.0% during the 2nd quarter. Rhumbline Advisers now owns 54,180 shares of the company's stock worth $529,000 after buying an additional 4,475 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Funko in the 2nd quarter valued at about $388,000. Quest Partners LLC bought a new position in Funko during the 2nd quarter worth approximately $25,000. Finally, Chesapeake Capital Corp IL acquired a new position in Funko during the second quarter valued at approximately $336,000. Institutional investors own 99.15% of the company's stock.

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.