Funko Stock (NASDAQ:FNKO) Gap Down Stock After Analyst Downgrade


Funko, Inc.’s stock price fell. (NASDAQ: FNKO – Get Rating) before trading on Friday after DA Davidson lowered its target price for the stock from $50.00 to $48.00. The stock had previously closed at $26.69, but opened at $24.88. DA Davidson currently has a buy rating on the stock. Funko’s shares were last traded at $22.81 with a volume of 40,112 shares.

Separately, JPMorgan Chase & Co upgraded shares of Funko from a “neutral” rating to an “overweight” rating and raised its price target for the company from $25.00 to $28.00 in a research report on Thursday, June 23rd.

Buying and selling insiders

In related news, CEO Andrew Mark Perlmutter sold 41,733 shares of Funko stock in a transaction that took place on Tuesday, June 28. The stock sold at an average price of $23.76, bringing the total transaction to $991,576.08. Following the completion of the transaction, the CEO now directly owns 94,061 shares in the company, valued at approximately $2,234,889.36. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the Saudi Electricity Company’s website. In other Funko news, CEO Andrew Mark Perlmutter sold 41,733 shares of Funko stock in a transaction that took place on Tuesday, June 28. The shares sold for an average price of $23.76, with a total value of $991.576.08. Following the completion of the sale, the CEO now directly owns 94,061 shares of the company’s stock, valued at approximately $2,234,889.36. The transaction was disclosed on file with the Securities and Exchange Commission, which can be accessed through this hyperlink. Also, director Kenneth R. Brautman sold 4,720 shares of Funko stock in a transaction that took place on Thursday, May 19. The stock sold at an average price of $21.00, for a total transaction of $99,120.00. Following the completion of the sale, the director now directly owns 1,180 shares of the company’s stock, valued at $24,780. The disclosure of this sale can be found here. Insiders have sold 55,148 shares of company stock valued at $1,288,842 in the last ninety days. Insiders own 12.56% of the company’s shares.

Institutional Trade in Funko

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Massachusetts Financial Services Corporation increased its stake in Funko by 11.5% in the first quarter. The Massachusetts Financial Services Corporation now owns 1,615,231 shares of the company’s stock valued at $27,863,000 after acquiring an additional 165,984 shares during the period. Hood River Capital Management LLC increased its stake in Funko by 2.6% in the first quarter. Hood River Capital Management LLC now owns 1,411,248 shares of the company’s stock valued at $24,344,000 after acquiring an additional 35,202 shares during the period. Bank of New York Mellon Corp increased its stake in Funko by 18.0% in the first quarter. Bank of New York Mellon Corp. now owns 1,050,149 shares of the company’s stock valued at $18,115,000 after acquiring an additional 160,283 shares during the period. Victory Capital Management increased its holdings in shares of Funko by 625.6% during the second quarter. Victory Capital Management Inc. now owns 8,878,115 shares of the company’s stock, valued at $19,600,000 after purchasing an additional 7,575,101 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Funko stock by 47.5% during the first quarter. Dimensional Fund Advisors LP now owns 658,720 shares of the company’s stock valued at $11,363,000 after purchasing an additional 212,113 shares during the period. 66.08% of the shares are owned by hedge funds and other institutional investors.

Funko . price performance

The 50-day moving average for the company is $23.06 and the 200-day moving average is $19.53. The company has a market capitalization of $1.09 billion, a PE ratio of 19.30, a PEG ratio of 0.77 and a beta of 1.91. The company’s current ratio is 1.69, the quick ratio is 1.01 and the debt-to-equity ratio is 0.37.

Funko Corporation (NASDAQ:FNKO – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported earnings of $0.26 per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Funko’s net profit margin was 4.12% and return on equity was 18.40%. The company generated $315.72 million in revenue for the quarter, compared to analysts’ expectations of $292.63 million. During the same period in the previous year, the company earned $0.35 EPS. Quarterly revenue for the business was up 33.7% compared to the same quarter last year. On average, sell-side analysts expect Funko, Inc. Earnings per share of 1.68 for the current fiscal year.

About Funko

(Get Rating)

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 offers vinyl figures, anthropomorphic figures, and action figures. fashion accessories, including bags, backpacks and wallets; clothing, such as T-shirts and hats; board games, plush products, and accessories, such as key chains, pens, and pins; Household items, including drinking utensils, other home accessories, non-fungible tokens, and others.

Featured Stories



Receive Funko Daily news and reviews Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Funko and related companies with MarketBeat.com’s free daily email newsletter.

Leave a Reply

%d bloggers like this: