Short Interest in Funko, Inc. (NASDAQ:FNKO) Rises By 5.8%

Funko, Inc. (NASDAQ:FNKO) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,670,000 shares, an increase of 5.8% from the October 15th total of 3,470,000 shares. Currently, 10.7% of the shares of the company are short sold. Based on an average daily volume of 458,900 shares, the short-interest ratio is presently 8.0 days.

Insiders Place Their Bets

In other Funko news, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider now owns 6,362 shares of the company’s stock, valued at approximately $76,344. The trade was a 61.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Lunsford sold 7,361 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $12.02, for a total transaction of $88,479.22. Following the completion of the transaction, the director now directly owns 108,613 shares of the company’s stock, valued at approximately $1,305,528.26. The trade was a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,805 shares of company stock worth $357,861 in the last quarter. Corporate insiders own 4.81% of the company’s stock.

Institutional Trading of Funko

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in Funko by 4.5% in the first quarter. California State Teachers Retirement System now owns 33,179 shares of the company’s stock worth $207,000 after purchasing an additional 1,414 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Funko by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 66,269 shares of the company’s stock valued at $414,000 after acquiring an additional 2,342 shares during the period. Quest Partners LLC purchased a new stake in Funko in the second quarter worth $25,000. Price T Rowe Associates Inc. MD lifted its position in shares of Funko by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,335 shares of the company’s stock worth $246,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Funko by 9.0% during the second quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after purchasing an additional 4,475 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FNKO. Stifel Nicolaus boosted their target price on shares of Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. B. Riley lifted their target price on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, DA Davidson reissued a “buy” rating and issued a $16.00 target price on shares of Funko in a research note on Thursday, November 14th.

Funko Stock Performance

Funko stock traded up $0.07 during trading on Tuesday, reaching $10.38. The company had a trading volume of 404,076 shares, compared to its average volume of 527,532. The firm’s 50-day simple moving average is $11.65 and its 200 day simple moving average is $10.13. The firm has a market capitalization of $562.18 million, a price-to-earnings ratio of -21.40 and a beta of 1.21. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Funko has a 52 week low of $5.36 and a 52 week high of $12.61.

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.