Funko (NASDAQ:FNKO) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of Funko (NASDAQ:FNKO) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

FNKO has been the topic of several other reports. DA Davidson started coverage on shares of Funko in a report on Thursday, June 20th. They set a buy rating and a $29.00 price objective on the stock. Zacks Investment Research raised shares of Funko from a sell rating to a hold rating and set a $25.00 price objective on the stock in a report on Monday, May 6th. Finally, Stifel Nicolaus lifted their price objective on shares of Funko from $27.00 to $28.00 and gave the company a buy rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Funko currently has an average rating of Buy and an average target price of $26.50.

Shares of NASDAQ:FNKO traded down $1.79 during trading on Thursday, reaching $22.59. 774,504 shares of the company were exchanged, compared to its average volume of 656,209. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.39 and a beta of 2.10. The business’s fifty day simple moving average is $23.07. Funko has a 12-month low of $11.22 and a 12-month high of $31.12. The company has a quick ratio of 1.31, a current ratio of 1.94 and a debt-to-equity ratio of 0.72.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $166.80 million for the quarter, compared to analyst estimates of $159.59 million. Funko had a net margin of 1.48% and a return on equity of 15.28%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. On average, sell-side analysts expect that Funko will post 0.95 EPS for the current fiscal year.

In other news, Director Charles D. Denson bought 20,600 shares of the stock in a transaction on Thursday, May 9th. The stock was bought at an average cost of $21.25 per share, for a total transaction of $437,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Fundamental Capital Partners, sold 269,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $21.15, for a total transaction of $5,699,925.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 522,018 shares of company stock worth $10,678,183 and have sold 1,100,700 shares worth $25,683,336. Company insiders own 16.26% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its stake in Funko by 58,400.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the company’s stock valued at $51,000 after acquiring an additional 2,336 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Funko in the first quarter valued at approximately $85,000. MetLife Investment Advisors LLC acquired a new stake in Funko in the first quarter valued at approximately $118,000. Citigroup Inc. boosted its stake in Funko by 152.7% in the fourth quarter. Citigroup Inc. now owns 7,284 shares of the company’s stock valued at $96,000 after acquiring an additional 4,402 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Funko by 50.1% in the fourth quarter. Stifel Financial Corp now owns 15,248 shares of the company’s stock valued at $201,000 after acquiring an additional 5,090 shares in the last quarter. Institutional investors own 46.70% of the company’s stock.

About Funko

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, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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