Funko (NASDAQ:FNKO) Shares Gap Down – What’s Next?

Funko, Inc. (NASDAQ:FNKO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $11.83, but opened at $11.58. Funko shares last traded at $11.61, with a volume of 11,057 shares trading hands.

Analyst Upgrades and Downgrades

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

Funko Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $11.61 and a two-hundred day simple moving average of $10.41. The company has a market capitalization of $646.13 million, a price-to-earnings ratio of -24.19 and a beta of 1.22.

Insider Transactions at Funko

In other news, insider Andrew David Oddie sold 10,800 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total value of $129,924.00. Following the completion of the transaction, the insider now directly owns 40,372 shares of the company’s stock, valued at approximately $485,675.16. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.00, for a total value of $120,000.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 126,805 shares of company stock worth $1,366,661. 4.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Funko

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Funko in the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Funko during the 2nd quarter valued at $121,000. Walleye Capital LLC acquired a new stake in Funko during the 3rd quarter valued at $129,000. SG Americas Securities LLC acquired a new stake in Funko during the 3rd quarter valued at $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Funko during the 3rd quarter valued at $196,000. 99.15% of the stock is 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.