Funko (NASDAQ:FNKO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Funko (NASDAQ:FNKOGet Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The brokerage currently has $22.00 price objective on the stock.

According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “

A number of other analysts have also recently commented on FNKO. DA Davidson upped their price target on shares of Funko from $34.00 to $46.00 and gave the company a buy rating in a research report on Friday, March 4th. BMO Capital Markets upped their target price on Funko from $18.00 to $21.00 in a research report on Monday, March 7th. Finally, Jefferies Financial Group raised their target price on Funko from $25.00 to $30.00 and gave the stock a buy rating in a research note on Friday, March 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $29.80.

NASDAQ:FNKO opened at $19.33 on Tuesday. The stock’s 50-day moving average is $17.46 and its 200-day moving average is $17.50. Funko has a 1-year low of $15.28 and a 1-year high of $27.20. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39. The stock has a market cap of $981.73 million, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 0.33 and a beta of 2.11.

Funko (NASDAQ:FNKOGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.22 by $0.12. Funko had a net margin of 4.12% and a return on equity of 18.82%. The business had revenue of $308.34 million for the quarter, compared to the consensus estimate of $271.99 million. During the same period last year, the company earned $0.18 EPS. The firm’s revenue was up 63.0% compared to the same quarter last year. As a group, equities analysts forecast that Funko will post 1.6 EPS for the current year.

In related news, CEO Andrew Mark Perlmutter sold 2,466 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $17.07, for a total value of $42,094.62. Following the transaction, the chief executive officer now directly owns 125,494 shares in the company, valued at approximately $2,142,182.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tracy D. Daw sold 1,808 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $16.24, for a total transaction of $29,361.92. Following the sale, the insider now owns 13,219 shares of the company’s stock, valued at approximately $214,676.56. The disclosure for this sale can be found here. Insiders have sold 1,520,045 shares of company stock worth $29,642,905 in the last quarter. Company insiders own 12.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FNKO. Swiss National Bank boosted its stake in Funko by 9.0% during the 1st quarter. Swiss National Bank now owns 52,000 shares of the company’s stock valued at $897,000 after purchasing an additional 4,300 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Funko by 94.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 50,384 shares of the company’s stock valued at $869,000 after purchasing an additional 24,430 shares during the last quarter. Parcion Private Wealth LLC raised its stake in shares of Funko by 0.3% during the 1st quarter. Parcion Private Wealth LLC now owns 512,160 shares of the company’s stock worth $8,835,000 after purchasing an additional 1,500 shares during the period. Rice Hall James & Associates LLC boosted its holdings in shares of Funko by 2.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 132,272 shares of the company’s stock worth $2,282,000 after buying an additional 3,501 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Funko by 8,667.1% during the first quarter. Russell Investments Group Ltd. now owns 6,400 shares of the company’s stock valued at $110,000 after buying an additional 6,327 shares during the period. 66.08% of the stock is currently owned by institutional investors and hedge funds.

Funko Company Profile (Get Rating)

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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.

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