Funko (NASDAQ:FNKO) Shares Gap Down on Analyst Downgrade

Shares of Funko, Inc. (NASDAQ:FNKO - Get Free Report) gapped down prior to trading on Friday after DA Davidson lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $10.37, but opened at $9.84. DA Davidson currently has a buy rating on the stock. Funko shares last traded at $9.40, with a volume of 1,422,383 shares trading hands.

Separately, Stifel Nicolaus lifted their price objective on shares of Funko from $11.00 to $12.00 and gave the company a "hold" rating in a research report on Friday, January 3rd.

Insider Activity at Funko

In related news, insider Andrew David Oddie sold 27,712 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total transaction of $378,823.04. Following the transaction, the insider now owns 20,186 shares of the company's stock, valued at $275,942.62. This represents a 57.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 14,650 shares of the firm's stock in a transaction on Friday, December 20th. The shares were 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 directly owns 6,362 shares of the company's stock, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,079 shares of company stock worth $572,769 over the last 90 days. Company insiders own 4.81% of the company's stock.

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Hedge Funds Weigh In On Funko

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Funko by 5,486.5% during the third quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock worth $10,133,000 after buying an additional 814,357 shares in the last quarter. TBH Global Asset Management LLC purchased a new stake in shares of Funko during the 4th quarter worth approximately $2,748,000. FMR LLC boosted its stake in shares of Funko by 1,541.0% during the 3rd 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. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Funko in the 3rd quarter worth approximately $860,000. Finally, Barclays PLC increased its stake in Funko by 278.5% in the 3rd quarter. Barclays PLC now owns 40,972 shares of the company's stock valued at $501,000 after purchasing an additional 30,147 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company's stock.

Funko Stock Performance

The firm has a fifty day moving average of $13.27 and a 200-day moving average of $12.11. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $416.46 million, a price-to-earnings ratio of -16.02 and a beta of 0.94.

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.