Funko (NASDAQ:FNKO) Shares Gap Down After Analyst Downgrade

Funko, Inc. (NASDAQ:FNKO) gapped down prior to trading on Friday after DA Davidson lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $10.37, but opened at $9.84. DA Davidson currently has a buy rating on the stock. Funko shares last traded at $9.40, with a volume of 1,422,383 shares trading hands.

Separately, Stifel Nicolaus lifted their price objective on shares of Funko from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, January 3rd.

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 shares were 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 $275,942.62. This represents a 57.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tracy D. Daw sold 14,650 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $12.55, for a total transaction of $183,857.50. Following the transaction, the insider now owns 6,362 shares in the company, valued at approximately $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. Insiders have sold a total of 43,079 shares of company stock valued at $572,769 over the last 90 days. Insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 814,357 shares in the last quarter. TBH Global Asset Management LLC bought a new position in Funko in the 4th quarter valued at $2,748,000. FMR LLC increased its position in shares of Funko by 1,541.0% during the 3rd quarter. FMR LLC now owns 57,649 shares of the company’s stock valued at $704,000 after purchasing an additional 54,136 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Funko during the 3rd quarter valued at $860,000. Finally, Barclays PLC raised its stake in shares of Funko by 278.5% during the 3rd quarter. Barclays PLC now owns 40,972 shares of the company’s stock worth $501,000 after purchasing an additional 30,147 shares during the period. Institutional investors own 99.15% of the company’s stock.

Funko Stock Performance

The company’s 50-day moving average is $13.27 and its two-hundred day moving average is $12.10. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The company has a market cap of $485.78 million, a P/E ratio of -18.69 and a beta of 0.94.

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.