Goldman Sachs Group Inc. Sells 84,743 Shares of Funko, Inc. $FNKO

Goldman Sachs Group Inc. cut its position in shares of Funko, Inc. (NASDAQ:FNKO) by 32.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,842 shares of the company’s stock after selling 84,743 shares during the period. Goldman Sachs Group Inc. owned about 0.32% of Funko worth $1,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. ING Groep NV acquired a new position in shares of Funko during the first quarter worth $6,860,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Funko during the first quarter valued at $704,000. Pacer Advisors Inc. purchased a new stake in shares of Funko during the first quarter valued at $3,170,000. Assenagon Asset Management S.A. boosted its holdings in Funko by 952.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,235,437 shares of the company’s stock valued at $8,475,000 after purchasing an additional 1,118,090 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its holdings in Funko by 242.2% in the first quarter. Graham Capital Management L.P. now owns 136,125 shares of the company’s stock valued at $934,000 after purchasing an additional 96,347 shares during the last quarter. Institutional investors own 99.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FNKO. DA Davidson reissued a “buy” rating and set a $7.00 target price on shares of Funko in a research note on Monday, July 28th. The Goldman Sachs Group cut their price objective 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. Finally, Wall Street Zen cut shares of Funko from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.17.

Funko Stock Performance

Shares of Funko stock opened at $3.46 on Monday. Funko, Inc. has a 1 year low of $2.22 and a 1 year high of $14.65. 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 $191.56 million, a P/E ratio of -2.86 and a beta of 0.81. The company’s fifty day moving average is $3.55 and its two-hundred day moving average is $4.54.

Funko (NASDAQ:FNKO) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. Analysts forecast that Funko, Inc. will post -0.12 earnings per share for the current year.

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.