Trexquant Investment LP Increases Position in Funko, Inc. $FNKO

Trexquant Investment LP increased its position in Funko, Inc. (NASDAQ:FNKO) by 116.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,724 shares of the company’s stock after purchasing an additional 15,966 shares during the period. Trexquant Investment LP owned 0.05% of Funko worth $204,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. ING Groep NV bought a new stake in shares of Funko during the first quarter valued at approximately $6,860,000. Pacer Advisors Inc. purchased a new position in Funko during the 1st quarter worth approximately $3,170,000. Assenagon Asset Management S.A. grew its holdings in shares of Funko by 952.8% during 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 in the last quarter. XTX Topco Ltd purchased a new position in shares of Funko during the 1st quarter valued at $1,452,000. Finally, SG Americas Securities LLC boosted its holdings in Funko by 5,429.1% in the first quarter. SG Americas Securities LLC now owns 1,011,493 shares of the company’s stock worth $6,939,000 after purchasing an additional 993,199 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.

Funko Stock Performance

Shares of FNKO stock opened at $3.36 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.41 and a current ratio of 0.64. The company has a market capitalization of $186.04 million, a price-to-earnings ratio of -2.78 and a beta of 0.81. Funko, Inc. has a 52 week low of $2.22 and a 52 week high of $14.65. The company has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $5.06.

Funko (NASDAQ:FNKO) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $206.18 million. Funko had a negative net margin of 6.72% and a negative return on equity of 19.97%. The business’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts predict that Funko, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

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

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.