Funko (FNKO) Rating Lowered to Strong Sell at Zacks Investment Research

Funko (NASDAQ:FNKO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday.

According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “

FNKO has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on Funko from $10.50 to $12.00 and gave the company a “market perform” rating in a report on Thursday, November 15th. Piper Jaffray Companies set a $24.00 price objective on Funko and gave the company a “buy” rating in a report on Wednesday, November 21st. JPMorgan Chase & Co. lifted their target price on Funko from $14.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $23.00 target price on shares of Funko in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.88.

FNKO traded down $0.44 during trading hours on Friday, reaching $14.37. 245,500 shares of the company’s stock traded hands, compared to its average volume of 500,666. Funko has a 52-week low of $5.81 and a 52-week high of $31.12. The company has a quick ratio of 0.99, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The stock has a market cap of $713.88 million and a P/E ratio of 47.90.

Funko (NASDAQ:FNKO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. Funko had a return on equity of 10.69% and a net margin of 1.55%. The company had revenue of $176.90 million during the quarter, compared to analysts’ expectations of $166.07 million. During the same quarter in the previous year, the business earned $0.04 EPS. Funko’s revenue was up 23.9% compared to the same quarter last year. Equities analysts anticipate that Funko will post 0.71 EPS for the current fiscal year.

In other news, President Andrew Mark Perlmutter sold 55,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $20.02, for a total value of $1,101,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $20.36, for a total value of $203,600.00. The disclosure for this sale can be found here. Insiders own 18.39% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Funko by 22.0% in the 3rd quarter. BlackRock Inc. now owns 683,376 shares of the company’s stock worth $16,190,000 after acquiring an additional 123,016 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Funko in the 3rd quarter worth $12,615,000. Vanguard Group Inc. raised its position in shares of Funko by 17.5% in the 3rd quarter. Vanguard Group Inc. now owns 469,556 shares of the company’s stock worth $11,123,000 after acquiring an additional 70,085 shares in the last quarter. Feinberg Stephen bought a new position in shares of Funko in the 2nd quarter worth $2,242,000. Finally, SG Americas Securities LLC bought a new position in shares of Funko in the 3rd quarter worth $4,125,000. 40.35% of the stock is owned by hedge funds and other institutional investors.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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