State Street Corp Decreases Position in Funko, Inc. (NASDAQ:FNKO)

State Street Corp lowered its position in Funko, Inc. (NASDAQ:FNKO) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 686,252 shares of the company’s stock after selling 7,928 shares during the quarter. State Street Corp owned 1.27% of Funko worth $8,386,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Funko by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company’s stock worth $1,111,000 after buying an additional 10,034 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Funko by 9.0% in the second quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after purchasing an additional 4,475 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Funko in the second quarter valued at approximately $388,000. Quest Partners LLC acquired a new stake in shares of Funko in the second quarter valued at approximately $25,000. Finally, Chesapeake Capital Corp IL purchased a new position in shares of Funko during the 2nd quarter worth approximately $336,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FNKO. B. Riley upped their target price on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. DA Davidson restated a “buy” rating and issued a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Funko Stock Performance

Shares of FNKO opened at $13.24 on Friday. Funko, Inc. has a 1 year low of $5.36 and a 1 year high of $13.40. The company’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $10.78. The company has a market capitalization of $717.03 million, a price-to-earnings ratio of -27.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96.

Insider Buying and Selling at Funko

In related news, insider Tracy D. Daw sold 14,650 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $12.55, for a total transaction of $183,857.50. Following the completion of the transaction, the insider now owns 6,362 shares of the company’s stock, valued at approximately $79,843.10. This represents a 69.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Lunsford sold 7,361 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total transaction of $88,479.22. Following the transaction, the director now directly owns 108,613 shares in the company, valued at approximately $1,305,528.26. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 119,011 shares of company stock worth $1,281,137. Insiders own 4.81% of the company’s stock.

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.