Funko (NASDAQ:FNKO) Shares Gap Down – Here’s What Happened

Funko, Inc. (NASDAQ:FNKO) shares gapped down before the market opened on Friday . The stock had previously closed at $10.37, but opened at $9.84. Funko shares last traded at $9.40, with a volume of 1,422,383 shares.

Analyst Upgrades and Downgrades

FNKO has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Funko in a research note on Thursday, January 2nd. Stifel Nicolaus raised their price target on Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd.

Funko Stock Down 13.5 %

The firm has a market cap of $485.73 million, a P/E ratio of -18.65 and a beta of 0.94. The firm’s 50 day moving average is $13.36 and its two-hundred day moving average is $12.09. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44.

Insiders Place Their Bets

In other Funko news, insider Tracy D. Daw sold 14,650 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $12.55, for a total value of $183,857.50. Following the completion of the transaction, the insider now directly owns 6,362 shares of the company’s stock, valued at approximately $79,843.10. The trade was a 69.72 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the completion of the sale, the insider now owns 20,186 shares of the company’s stock, valued at $275,942.62. This trade represents a 57.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,079 shares of company stock worth $572,769. Company insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in Funko during the 4th quarter worth approximately $38,000. Quest Partners LLC increased its position in shares of Funko by 160.9% during the third quarter. Quest Partners LLC now owns 6,559 shares of the company’s stock worth $80,000 after acquiring an additional 4,045 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Funko during the third quarter worth $129,000. Intech Investment Management LLC bought a new stake in Funko in the 4th quarter valued at $148,000. Finally, Hsbc Holdings PLC acquired a new position in Funko in the 4th quarter worth $152,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.

About Funko

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.