Funko, Inc. (NASDAQ:FNKO) Sees Significant Increase in Short Interest

Funko, Inc. (NASDAQ:FNKO) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 3,670,000 shares, a growth of 5.8% from the October 15th total of 3,470,000 shares. Based on an average daily trading volume, of 458,900 shares, the days-to-cover ratio is presently 8.0 days. Currently, 10.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

FNKO has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. DA Davidson restated a “buy” rating and set a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th. Finally, B. Riley raised their price objective on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th.

Insider Activity at Funko

In related 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 transaction, the director now owns 108,613 shares in the company, valued at $1,305,528.26. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew David Oddie sold 10,800 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the completion of the sale, the insider now owns 40,372 shares in the company, valued at approximately $485,675.16. This trade represents a 21.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,805 shares of company stock worth $357,861. 4.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Funko in the 2nd quarter valued at $25,000. Walleye Capital LLC acquired a new position in Funko during the third quarter worth $129,000. Paloma Partners Management Co acquired a new position in Funko during the first quarter worth $67,000. SG Americas Securities LLC purchased a new stake in shares of Funko during the third quarter worth $136,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Funko during the first quarter worth $73,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Price Performance

Shares of NASDAQ:FNKO traded down $0.04 on Tuesday, reaching $10.27. The company’s stock had a trading volume of 163,664 shares, compared to its average volume of 526,459. The company has a 50-day simple moving average of $11.65 and a 200 day simple moving average of $10.13. The company has a market cap of $556.22 million, a P/E ratio of -21.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. Funko has a 52-week low of $5.36 and a 52-week high of $12.61.

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.