Funko (NASDAQ:FNKO) Trading Down 7% – What’s Next?

Funko, Inc. (NASDAQ:FNKO) shares dropped 7% on Tuesday . The company traded as low as $10.55 and last traded at $10.55. Approximately 325,724 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 516,551 shares. The stock had previously closed at $11.35.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FNKO. DA Davidson increased their price objective on Funko from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price objective on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th.

Funko Stock Performance

The firm’s 50 day simple moving average is $11.62 and its 200-day simple moving average is $10.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 0.96. The company has a market capitalization of $558.82 million, a price-to-earnings ratio of -21.42 and a beta of 1.21.

Insider Buying and Selling at Funko

In other Funko news, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $120,000.00. Following the sale, the insider now directly owns 6,362 shares of the company’s stock, valued at $76,344. The trade was a 61.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tracy D. Daw sold 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $120,000.00. Following the transaction, the insider now directly owns 6,362 shares of the company’s stock, valued at approximately $76,344. This represents a 61.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew David Oddie sold 10,800 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the completion of the transaction, the insider now directly owns 40,372 shares in the company, valued at $485,675.16. This trade represents a 21.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,805 shares of company stock valued at $357,861 in the last three months. 4.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Funko

Hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in Funko during the second quarter worth $25,000. Paloma Partners Management Co acquired a new position in Funko during the first quarter worth $67,000. EntryPoint Capital LLC acquired a new position in Funko during the first quarter worth $73,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Funko during the second quarter worth $121,000. Finally, Walleye Capital LLC acquired a new position in Funko during the third quarter worth $129,000. 99.15% of the stock is owned by institutional investors and hedge funds.

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.