Funko (NASDAQ:FNKO) Shares Gap Down - Here's What Happened

Funko, Inc. (NASDAQ:FNKO - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $12.22, but opened at $11.25. Funko shares last traded at $10.66, with a volume of 160,116 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Funko from $9.00 to $10.50 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. B. Riley raised their price target on shares of Funko from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Finally, DA Davidson raised their price target on shares of Funko from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday.

Funko Stock Performance

The stock has a market capitalization of $603.05 million, a P/E ratio of -12.85 and a beta of 1.21. The company's 50-day moving average is $11.60 and its two-hundred day moving average is $9.89. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49.

Funko (NASDAQ:FNKO - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $231.04 million. Funko had a negative net margin of 4.06% and a negative return on equity of 4.69%. Funko's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) EPS. As a group, sell-side analysts anticipate that Funko, Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity at Funko

In related news, Director Michael C. Lunsford sold 5,900 shares of Funko stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $9.55, for a total value of $56,345.00. Following the sale, the director now directly owns 98,974 shares in the company, valued at $945,201.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Funko news, Director Michael C. Lunsford sold 7,361 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.02, for a total transaction of $88,479.22. Following the sale, the director now directly owns 108,613 shares in the company, valued at approximately $1,305,528.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael C. Lunsford sold 5,900 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $9.55, for a total transaction of $56,345.00. Following the sale, the director now owns 98,974 shares in the company, valued at $945,201.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,805 shares of company stock worth $415,169 in the last ninety days. 4.81% of the stock is owned by insiders.

Institutional Trading of Funko

A number of hedge funds and other institutional investors have recently made changes to their positions in FNKO. BNP Paribas Financial Markets raised its position in shares of Funko by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 66,269 shares of the company's stock worth $414,000 after buying an additional 2,342 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Funko in the 1st quarter worth approximately $656,000. Swiss National Bank grew its stake in shares of Funko by 12.7% in the 1st quarter. Swiss National Bank now owns 64,700 shares of the company's stock worth $404,000 after purchasing an additional 7,300 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Funko in the 1st quarter worth approximately $73,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Funko by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company's stock worth $246,000 after purchasing an additional 2,689 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

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.