Massachusetts Financial Services Co. MA Cuts Stake in Funko, Inc. (NASDAQ:FNKO)

Massachusetts Financial Services Co. MA lowered its position in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) by 84.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 457,017 shares of the company's stock after selling 2,432,555 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.84% of Funko worth $6,119,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Funko by 5,486.5% in the third quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock valued at $10,133,000 after buying an additional 814,357 shares in the last quarter. American Century Companies Inc. lifted its holdings in Funko by 18.5% in the fourth quarter. American Century Companies Inc. now owns 680,231 shares of the company's stock valued at $9,108,000 after acquiring an additional 106,037 shares during the period. TBH Global Asset Management LLC purchased a new stake in shares of Funko during the 4th quarter worth $2,748,000. FMR LLC grew 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 purchasing an additional 54,136 shares during the period. Finally, Barclays PLC increased its holdings in shares of 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. Institutional investors and hedge funds own 99.15% of the company's stock.

Insider Buying and Selling at Funko

In related news, Director Jason Harinstein acquired 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $7.09 per share, with a total value of $106,350.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $106,350. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew David Oddie sold 3,867 shares of Funko stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $8.87, for a total value of $34,300.29. Following the sale, the insider now owns 23,200 shares of the company's stock, valued at approximately $205,784. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,959 shares of company stock worth $227,640. 4.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FNKO has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective 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 decreased their price target on Funko from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, March 7th.

Funko Price Performance

Shares of NASDAQ:FNKO traded down $0.12 during midday trading on Friday, hitting $4.48. 1,245,195 shares of the stock were exchanged, compared to its average volume of 724,051. Funko, Inc. has a twelve month low of $4.31 and a twelve month high of $14.65. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $9.38 and a 200-day moving average price of $11.27. The stock has a market cap of $244.32 million, a P/E ratio of -9.33 and a beta of 0.75.

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.