Funko (NASDAQ:FNKO) Shares Up 5.1% - Here's Why

Funko, Inc. (NASDAQ:FNKO - Get Free Report)'s share price rose 5.1% during mid-day trading on Wednesday . The company traded as high as $14.56 and last traded at $14.55. Approximately 390,750 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 556,762 shares. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

FNKO has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Funko from $11.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. DA Davidson reaffirmed a "buy" rating and issued a $16.00 target price on shares of Funko in a research report on Thursday, January 2nd. Finally, B. Riley boosted their price target on Funko from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, September 12th.

Funko Trading Up 4.8 %

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 business's 50-day simple moving average is $11.83 and its two-hundred day simple moving average is $10.96. The stock has a market capitalization of $785.32 million, a price-to-earnings ratio of -30.21 and a beta of 1.22.

Insider Activity at Funko

In other news, insider Andrew David Oddie sold 27,712 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the completion of the sale, the insider now owns 20,186 shares in the company, valued at approximately $275,942.62. This trade represents a 57.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy D. Daw sold 14,650 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $12.55, for a total value of $183,857.50. Following the transaction, the insider now directly owns 6,362 shares in the company, valued at $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,720 shares of company stock worth $1,576,493. 4.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Funko

A number of large investors have recently added to or reduced their stakes in FNKO. Quest Partners LLC acquired a new position in Funko in the 2nd quarter worth $25,000. Rhumbline Advisers increased its position in shares of Funko by 9.0% during the second quarter. Rhumbline Advisers now owns 54,180 shares of the company's stock worth $529,000 after acquiring an additional 4,475 shares during the last quarter. Olympiad Research LP lifted its stake in shares of Funko by 40.3% in the third quarter. Olympiad Research LP now owns 23,532 shares of the company's stock worth $288,000 after acquiring an additional 6,756 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Funko by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company's stock valued at $1,111,000 after purchasing an additional 10,034 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Funko during the 3rd quarter valued at approximately $129,000. 99.15% of the stock is 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.