Funko, Inc. (NASDAQ:FNKO – Get Rating)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $16.72, but opened at $20.17. Funko shares last traded at $19.78, with a volume of 92,499 shares traded. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. Funko had a return on equity of 18.00% and a net margin of 4.27%. The business had revenue of $308.34 million during the quarter, compared to the consensus estimate of $271.99 million. During the same period in the previous year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was up 63.0% on a year-over-year basis.
Several research firms recently commented on FNKO. DA Davidson boosted their target price on Funko from $34.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, March 4th. Jefferies Financial Group raised their price target on Funko from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. BMO Capital Markets raised their price target on Funko from $18.00 to $21.00 in a report on Monday, March 7th. Finally, Zacks Investment Research upgraded Funko from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Tuesday, March 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.99.
In other news, Director Adam M. Kriger sold 136,530 shares of the stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $18.16, for a total transaction of $2,479,384.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Mark Perlmutter sold 3,978 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $16.24, for a total transaction of $64,602.72. Following the sale, the chief executive officer now directly owns 131,461 shares in the company, valued at $2,134,926.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,431,575 shares of company stock worth $27,644,790. Corporate insiders own 12.56% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FNKO. Point72 Hong Kong Ltd acquired a new position in shares of Funko during the 4th quarter worth about $33,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Funko during the 3rd quarter worth about $40,000. New York State Teachers Retirement System raised its position in shares of Funko by 130.0% during the 4th quarter. New York State Teachers Retirement System now owns 2,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,300 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in shares of Funko during the 1st quarter worth about $85,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Funko by 425.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,719 shares of the company’s stock worth $104,000 after purchasing an additional 4,630 shares during the last quarter. Hedge funds and other institutional investors own 66.08% of the company’s stock.
The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $17.30 and its two-hundred day moving average is $17.45. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 0.26 and a beta of 2.11.
About Funko (NASDAQ:FNKO)
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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.