Insider Buying: Funko, Inc. (NASDAQ:FNKO) Major Shareholder Acquires $53,605.47 in Stock

Funko, Inc. (NASDAQ:FNKO) major shareholder Working Capital Advisors (Uk) purchased 7,647 shares of Funko stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $7.01 per share, with a total value of $53,605.47. Following the transaction, the insider now directly owns 6,524,322 shares of the company’s stock, valued at $45,735,497.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Working Capital Advisors (Uk) also recently made the following trade(s):

• On Tuesday, September 5th, Working Capital Advisors (Uk) acquired 125,558 shares of Funko stock. The stock was acquired at an average price of $6.79 per share, with a total value of $852,538.82.
• On Tuesday, August 29th, Working Capital Advisors (Uk) acquired 8,478 shares of Funko stock. The stock was acquired at an average price of $6.46 per share, with a total value of $54,767.88.
• On Thursday, August 24th, Working Capital Advisors (Uk) acquired 90,185 shares of Funko stock. The stock was acquired at an average price of $6.06 per share, with a total value of $546,521.10.
• On Tuesday, August 22nd, Working Capital Advisors (Uk) bought 71,247 shares of Funko stock. The stock was bought at an average cost of $6.21 per share, with a total value of $442,443.87.
• On Wednesday, August 16th, Working Capital Advisors (Uk) bought 256,561 shares of Funko stock. The stock was bought at an average cost of $5.34 per share, with a total value of $1,370,035.74.

Funko Stock Performance

FNKO opened at $7.10 on Monday. The firm has a market cap of $367.78 million, a P/E ratio of -2.08 and a beta of 1.39. Funko, Inc. has a 1-year low of $5.27 and a 1-year high of $25.24. The company has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $9.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.53.

Funko (NASDAQ:FNKO) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09). Funko had a negative return on equity of 18.61% and a negative net margin of 13.52%. The business had revenue of $240.03 million during the quarter, compared to the consensus estimate of $253.15 million. Equities analysts forecast that Funko, Inc. will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Funko

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Funko by 2.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 21,338 shares of the company’s stock worth $476,000 after acquiring an additional 604 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Funko by 11.6% during the first quarter. BNP Paribas Arbitrage SA now owns 8,185 shares of the company’s stock valued at $141,000 after purchasing an additional 850 shares during the last quarter. Deutsche Bank AG lifted its position in Funko by 8.1% during the fourth quarter. Deutsche Bank AG now owns 15,209 shares of the company’s stock valued at $166,000 after purchasing an additional 1,136 shares during the last quarter. Legal & General Group Plc lifted its position in Funko by 9.5% during the fourth quarter. Legal & General Group Plc now owns 13,377 shares of the company’s stock valued at $146,000 after purchasing an additional 1,156 shares during the last quarter. Finally, American International Group Inc. lifted its position in Funko by 11.7% during the second quarter. American International Group Inc. now owns 14,900 shares of the company’s stock valued at $333,000 after purchasing an additional 1,556 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FNKO. DA Davidson reaffirmed a “buy” rating and issued a $9.50 target price (down previously from $20.00) on shares of Funko in a research report on Friday, August 4th. TheStreet downgraded shares of Funko from a “c-” rating to a “d+” rating in a report on Friday, August 11th. Bank of America reduced their target price on shares of Funko from $13.00 to $10.50 in a report on Monday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Funko from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 7th. Finally, Stifel Nicolaus reduced their price objective on Funko from $9.00 to $8.00 in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Funko has a consensus rating of “Hold” and an average price target of $9.81.

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; fashion accessories, including handbags, backpacks, wallets, clothing, and other accessories; and figures, apparel, board games, accessories, plush products, homewares, vinyl records and art prints, posters, and digital non-fungible tokens, as well as creates soundtracks, toys, books, games, and other collectibles.