Funko (NASDAQ:FNKO) Trading Up 4.7% – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO)’s share price traded up 4.7% on Thursday . The company traded as high as $12.46 and last traded at $12.42. 1,627,081 shares were traded during mid-day trading, an increase of 198% from the average session volume of 546,411 shares. The stock had previously closed at $11.86.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson restated a “buy” rating and issued a $16.00 price target on shares of Funko in a research note on Thursday, November 14th. Finally, B. Riley lifted their price target on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th.

Funko Stock Performance

The stock has a 50-day simple moving average of $11.57 and a 200 day simple moving average of $10.57. 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 company has a market capitalization of $634.17 million, a PE ratio of -24.40 and a beta of 1.22.

Insiders Place Their Bets

In other news, Director Michael C. Lunsford sold 97,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $10.40, for a total value of $1,008,800.00. Following the completion of the transaction, the director now directly owns 11,613 shares of the company’s stock, valued at $120,775.20. The trade was a 89.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew David Oddie sold 10,800 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total value of $129,924.00. Following the completion of the transaction, the insider now directly owns 40,372 shares of the company’s stock, valued at approximately $485,675.16. This trade represents a 21.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,805 shares of company stock worth $1,246,661. 4.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Funko

A number of institutional investors have recently made changes to their positions in FNKO. Price T Rowe Associates Inc. MD raised its holdings in shares of Funko by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company’s stock worth $246,000 after acquiring an additional 2,689 shares during the last quarter. California State Teachers Retirement System increased its stake in Funko by 4.5% in the first quarter. California State Teachers Retirement System now owns 33,179 shares of the company’s stock valued at $207,000 after purchasing an additional 1,414 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Funko in the second quarter valued at $6,996,000. Bank of New York Mellon Corp increased its stake 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, Rhumbline Advisers increased its stake in Funko by 9.0% in the second quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after purchasing an additional 4,475 shares during the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.

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.