The Goldman Sachs Group cut shares of Funko (NASDAQ:FNKO – Get Rating) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, Marketbeat reports. The Goldman Sachs Group currently has $8.50 price target on the stock, down from their previous price target of $22.00.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Funko from an overweight rating to a neutral rating and dropped their price objective for the company from $32.00 to $16.00 in a research note on Friday, November 4th. Truist Financial cut Funko from a buy rating to a hold rating and dropped their price objective for the company from $26.00 to $13.00 in a research note on Friday, November 4th. DA Davidson lowered their target price on Funko from $48.00 to $20.00 and set a buy rating for the company in a research note on Friday, November 4th. Bank of America cut Funko from a buy rating to a neutral rating and lowered their target price for the stock from $35.00 to $9.00 in a research note on Monday, November 7th. Finally, Jefferies Financial Group cut Funko from a buy rating to a hold rating and lowered their target price for the stock from $15.00 to $13.00 in a research note on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $12.79.
Get Funko alerts:Funko Trading Down 1.5 %
Shares of NASDAQ FNKO opened at $11.81 on Tuesday. Funko has a twelve month low of $7.60 and a twelve month high of $27.79. The company has a current ratio of 1.38, a quick ratio of 0.67 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $10.84 and a 200-day simple moving average of $16.80. The stock has a market capitalization of $596.17 million, a PE ratio of 12.05, a PEG ratio of 1.24 and a beta of 1.56.
Funko (NASDAQ:FNKO – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.23). Funko had a net margin of 3.46% and a return on equity of 13.55%. The firm had revenue of $365.61 million during the quarter, compared to analyst estimates of $317.16 million. On average, equities analysts forecast that Funko will post 0.56 earnings per share for the current year.Insiders Place Their Bets
In other Funko news, CEO Andrew Mark Perlmutter sold 14,302 shares of Funko stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $11.87, for a total transaction of $169,764.74. Following the completion of the sale, the chief executive officer now directly owns 108,363 shares of the company's stock, valued at approximately $1,286,268.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Funko news, CEO Andrew Mark Perlmutter sold 14,302 shares of Funko stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $11.87, for a total transaction of $169,764.74. Following the completion of the sale, the chief executive officer now directly owns 108,363 shares of the company's stock, valued at approximately $1,286,268.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy D. Daw sold 6,136 shares of Funko stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $12.00, for a total value of $73,632.00. Following the sale, the insider now directly owns 40,594 shares of the company's stock, valued at $487,128. The disclosure for this sale can be found here. 12.56% of the stock is owned by company insiders.
Institutional Trading of Funko
Several institutional investors and hedge funds have recently made changes to their positions in FNKO. Swiss National Bank lifted its holdings in shares of Funko by 9.0% in the 1st quarter. Swiss National Bank now owns 52,000 shares of the company's stock valued at $897,000 after purchasing an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. increased its position in Funko by 456.1% during the 1st quarter. JPMorgan Chase & Co. now owns 57,662 shares of the company's stock worth $995,000 after purchasing an additional 47,293 shares during the period. Bank of New York Mellon Corp increased its position in Funko by 18.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,050,149 shares of the company's stock worth $18,115,000 after purchasing an additional 160,283 shares during the period. American Century Companies Inc. acquired a new position in Funko during the 1st quarter worth approximately $266,000. Finally, MetLife Investment Management LLC increased its position in Funko by 53.7% during the 1st quarter. MetLife Investment Management LLC now owns 15,195 shares of the company's stock worth $262,000 after purchasing an additional 5,307 shares during the period. 59.78% of the stock is owned by hedge funds and other institutional investors.
About Funko
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Funko, Inc engages in designing, sourcing and distribution of licensed pop culture products. Its product lines include media and entertainment content, which comprises movies, TV shows, video games, music and sports. The company was founded in 1998 and is headquartered in Everett, WA.
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