Funko (NASDAQ:FNKO) Shares Gap Down to $11.58

Funko, Inc. (NASDAQ:FNKO – Get Rating)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.58, but opened at $11.19. Funko shares last traded at $11.14, with a volume of 2,402 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FNKO shares. The Goldman Sachs Group lowered their price target on shares of Funko from $25.50 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Bank of America lowered shares of 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 report on Monday, November 7th. Truist Financial lowered shares of Funko from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $13.00 in a report on Friday, November 4th. JPMorgan Chase & Co. cut shares of Funko from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $16.00 in a research note on Friday, November 4th. Finally, Jefferies Financial Group cut shares of Funko from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $13.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.71.

Funko Trading Up 6.4 %

The business’s 50-day moving average price is $10.07 and its two-hundred day moving average price is $18.03. The company has a market capitalization of $609.26 million, a P/E ratio of 12.32, a PEG ratio of 1.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.67.

Funko (NASDAQ:FNKO – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.23). The firm had revenue of $365.61 million for the quarter, compared to the consensus estimate of $317.16 million. Funko had a return on equity of 13.55% and a net margin of 3.46%. As a group, analysts forecast that Funko, Inc. will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Funko

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Funko by 625.6% in the 2nd quarter. Victory Capital Management Inc. now owns 878,115 shares of the company’s stock valued at $19,600,000 after acquiring an additional 757,101 shares in the last quarter. Wellington Shields & Co. LLC bought a new stake in Funko in the 2nd quarter valued at $1,763,000. Monarch Partners Asset Management LLC bought a new stake in Funko in the 2nd quarter valued at $2,245,000. Divisar Capital Management LLC bought a new stake in Funko in the 2nd quarter valued at $3,272,000. Finally, Gainplan LLC bought a new stake in Funko in the 2nd quarter valued at $674,000. 59.78% of the stock is owned by institutional investors.

About Funko

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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.