Funko (NASDAQ:FNKO) Hits New 1-Year High – What’s Next?

Shares of Funko, Inc. (NASDAQ:FNKO) reached a new 52-week high on Wednesday . The stock traded as high as $13.89 and last traded at $13.39, with a volume of 1444865 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

FNKO has been the subject of a number of research analyst reports. B. Riley lifted their price objective on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price target on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Funko in a report on Thursday.

Funko Stock Performance

The business’s fifty day moving average is $11.70 and its two-hundred day moving average is $10.87. The stock has a market capitalization of $736.52 million, a PE ratio of -28.33 and a beta of 1.22. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

Insiders Place Their Bets

In other news, Director Michael C. Lunsford sold 97,000 shares of Funko stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $10.40, for a total value of $1,008,800.00. Following the completion of the transaction, the director now owns 11,613 shares in the company, valued at approximately $120,775.20. The trade was a 89.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $12.55, for a total value of $183,857.50. Following the sale, the insider now owns 6,362 shares in the company, valued at $79,843.10. The trade was a 69.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several hedge funds have recently added to or reduced their stakes in FNKO. Quest Partners LLC purchased a new position in shares of Funko during the second quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Funko during the 2nd quarter valued at $121,000. Walleye Capital LLC bought a new position in Funko in the 3rd quarter valued at $129,000. SG Americas Securities LLC purchased a new stake in Funko in the third quarter worth $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Funko during the third quarter worth $196,000. 99.15% of the stock is currently owned by institutional investors.

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.