Nuveen LLC Acquires New Shares in Funko, Inc. $FNKO

Nuveen LLC acquired a new stake in Funko, Inc. (NASDAQ:FNKO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 68,608 shares of the company’s stock, valued at approximately $471,000. Nuveen LLC owned approximately 0.13% of Funko at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ING Groep NV acquired a new stake in Funko in the 1st quarter valued at about $6,860,000. Hsbc Holdings PLC acquired a new stake in Funko in the 4th quarter valued at about $152,000. Pacer Advisors Inc. acquired a new stake in Funko in the 1st quarter valued at about $3,170,000. Assenagon Asset Management S.A. grew its stake in Funko by 952.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company’s stock valued at $8,475,000 after acquiring an additional 1,118,090 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Funko during the 1st quarter worth about $1,452,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Stock Up 3.4%

FNKO stock opened at $3.33 on Friday. The firm has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $5.34. The firm has a market cap of $184.38 million, a price-to-earnings ratio of -2.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.64 and a quick ratio of 0.41. Funko, Inc. has a 1-year low of $2.22 and a 1-year high of $14.65.

Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.30). The firm had revenue of $193.47 million for the quarter, compared to the consensus estimate of $206.18 million. Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%.The firm’s revenue was down 21.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. Research analysts predict that Funko, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FNKO shares. Wall Street Zen cut Funko from a “hold” rating to a “sell” rating in a report on Friday, July 18th. DA Davidson restated a “buy” rating and issued a $7.00 price target on shares of Funko in a report on Monday, July 28th. Finally, The Goldman Sachs Group cut their price target on shares of Funko from $5.50 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.13.

Funko Company Profile

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.