Funko (NASDAQ:FNKO) Price Target Cut to $22.00

Funko (NASDAQ:FNKOGet Rating) had its price target dropped by research analysts at The Goldman Sachs Group from $25.50 to $22.00 in a research note issued on Monday, Marketbeat reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 114.63% from the company’s current price.

A number of other research analysts have also commented on FNKO. DA Davidson lowered their price target on Funko from $48.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Bank of America lowered Funko from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $9.00 in a research report on Monday. JPMorgan Chase & Co. lowered Funko from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $16.00 in a research report on Friday, November 4th. Finally, Truist Financial downgraded Funko from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $13.00 in a report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.14.

Funko Trading Up 0.6 %

FNKO opened at $10.25 on Monday. The business has a 50 day simple moving average of $20.71 and a two-hundred day simple moving average of $21.29. The firm has a market capitalization of $513.87 million, a price-to-earnings ratio of 10.46, a PEG ratio of 0.17 and a beta of 1.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.37 and a quick ratio of 0.76. Funko has a one year low of $7.60 and a one year high of $27.79.

Insider Buying and Selling

In related news, insider Tracy D. Daw sold 26,800 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $22.78, for a total value of $610,504.00. Following the sale, the insider now owns 46,730 shares in the company, valued at approximately $1,064,509.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Tracy D. Daw sold 26,800 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $22.78, for a total value of $610,504.00. Following the sale, the insider now owns 46,730 shares in the company, valued at approximately $1,064,509.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jung Jennifer Fall sold 37,207 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $23.39, for a total value of $870,271.73. Following the completion of the sale, the chief financial officer now owns 52,310 shares in the company, valued at approximately $1,223,530.90. The disclosure for this sale can be found here. Insiders have sold 64,821 shares of company stock worth $1,497,577 in the last 90 days. Insiders own 12.56% of the company’s stock.

Institutional Trading of Funko

Several institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in Funko by 11.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,615,231 shares of the company’s stock valued at $27,863,000 after purchasing an additional 165,984 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Funko by 2.6% during the 1st quarter. Hood River Capital Management LLC now owns 1,411,248 shares of the company’s stock valued at $24,344,000 after purchasing an additional 35,202 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Funko by 50.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,325,305 shares of the company’s stock valued at $26,798,000 after purchasing an additional 447,190 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Funko by 18.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,050,149 shares of the company’s stock valued at $18,115,000 after purchasing an additional 160,283 shares during the last quarter. Finally, Alta Fox Capital Management LLC boosted its stake in Funko by 24.5% during the 2nd quarter. Alta Fox Capital Management LLC now owns 759,421 shares of the company’s stock valued at $16,950,000 after purchasing an additional 149,421 shares during the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

About Funko

(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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