Funko (NASDAQ:FNKO) Hits New 12-Month High – Here’s Why

Funko, Inc. (NASDAQ:FNKO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $14.17 and last traded at $14.02, with a volume of 573052 shares trading hands. The stock had previously closed at $13.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FNKO. DA Davidson reissued a “buy” rating and set a $16.00 price target on shares of Funko in a research note on Thursday, January 2nd. B. Riley increased their price target on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus increased their price target on Funko from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, January 3rd.

Funko Price Performance

The firm has a market capitalization of $785.26 million, a P/E ratio of -30.21 and a beta of 1.16. The firm has a 50 day moving average price of $11.83 and a 200-day moving average price of $10.96. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44.

Insider Activity

In related news, Director Michael C. Lunsford sold 97,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the completion of the sale, the director now directly owns 11,613 shares of the company’s stock, valued at approximately $120,775.20. This trade represents a 89.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew David Oddie sold 27,712 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the sale, the insider now directly owns 20,186 shares of the company’s stock, valued at $275,942.62. This represents a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,720 shares of company stock valued at $1,576,493 in the last ninety days. Insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

Institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in Funko by 21.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after purchasing an additional 619,114 shares during the period. Marshall Wace LLP increased its holdings in shares of Funko by 160.1% in the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after acquiring an additional 654,359 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Funko by 5,486.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company’s stock valued at $10,133,000 after acquiring an additional 814,357 shares during the period. Geode Capital Management LLC increased its holdings in shares of Funko by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 807,760 shares of the company’s stock valued at $9,873,000 after acquiring an additional 13,002 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Funko by 81.1% in the 2nd quarter. American Century Companies Inc. now owns 250,121 shares of the company’s stock valued at $2,441,000 after acquiring an additional 112,007 shares during the period. 99.15% of the stock is owned by 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, 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.