Funko (NASDAQ:FNKO) Stock Price Down 10.3% - Here's What Happened

Funko, Inc. (NASDAQ:FNKO - Get Free Report)'s stock price fell 10.3% on Thursday . The stock traded as low as $10.24 and last traded at $10.09. 579,745 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 701,800 shares. The stock had previously closed at $11.25.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FNKO shares. Stifel Nicolaus boosted their target price on shares of Funko from $11.00 to $12.00 and gave the stock a "hold" rating in a report on Friday, January 3rd. DA Davidson lowered their price objective on shares of Funko from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday.

Funko Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The stock has a 50-day moving average price of $13.27 and a 200-day moving average price of $12.11. The company has a market capitalization of $425.40 million, a price-to-earnings ratio of -16.38 and a beta of 0.94.

Insider Buying and Selling at Funko

In other news, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $12.55, for a total transaction of $183,857.50. Following the transaction, the insider now owns 6,362 shares in the company, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew David Oddie sold 27,712 shares of Funko stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the sale, the insider now directly owns 20,186 shares of the company's stock, valued at approximately $275,942.62. The trade was a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,079 shares of company stock valued at $572,769 in the last quarter. 4.81% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Funko

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning bought a new position in Funko during the third quarter worth about $240,000. Quest Partners LLC grew its position in shares of Funko by 160.9% during the 3rd quarter. Quest Partners LLC now owns 6,559 shares of the company's stock worth $80,000 after purchasing an additional 4,045 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Funko during the third quarter worth approximately $196,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Funko in the third quarter valued at approximately $860,000. Finally, FMR LLC boosted its stake in shares of Funko by 1,541.0% in the third quarter. FMR LLC now owns 57,649 shares of the company's stock valued at $704,000 after buying an additional 54,136 shares during the period. Institutional investors and hedge funds own 99.15% of the company's stock.

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.