Cubist Systematic Strategies LLC Invests $704,000 in Funko, Inc. $FNKO

Cubist Systematic Strategies LLC purchased a new position in shares of Funko, Inc. (NASDAQ:FNKO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 102,551 shares of the company’s stock, valued at approximately $704,000. Cubist Systematic Strategies LLC owned approximately 0.19% of Funko as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Funko during the fourth quarter worth about $183,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Funko by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,783 shares of the company’s stock worth $238,000 after purchasing an additional 828 shares in the last quarter. Man Group plc acquired a new stake in shares of Funko during the fourth quarter worth about $293,000. State of Wyoming lifted its position in shares of Funko by 115.2% during the fourth quarter. State of Wyoming now owns 22,731 shares of the company’s stock worth $304,000 after purchasing an additional 12,169 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Funko by 15.1% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 27,429 shares of the company’s stock worth $188,000 after purchasing an additional 3,603 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

Funko Trading Down 1.2%

Shares of Funko stock opened at $3.33 on Wednesday. The company has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $5.07. Funko, Inc. has a 12-month low of $2.22 and a 12-month high of $14.65. The company has a current ratio of 0.64, a quick ratio of 0.41 and a debt-to-equity ratio of 0.02. The stock has a market cap of $184.37 million, a price-to-earnings ratio of -2.75 and a beta of 0.81.

Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.30). The business had revenue of $193.47 million for the quarter, compared to analysts’ expectations of $206.18 million. Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%.The business’s revenue was down 21.9% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. On average, equities analysts forecast that Funko, Inc. will post -0.12 EPS for the current fiscal year.

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.