Funko (NASDAQ:FNKO) Gets New Price Target of $48.00 on DA Davidson

Funko (NASDAQ:FNKO – Get Rank) had its price target lowered by investment analysts at DA Davidson from $50.00 to $48.00 in a research report released Friday, reports Benzinga. The company currently has a rating of “buy” the shares. DA Davidson’s price target would indicate an upside potential of 119.58% from the company’s current price.

Separately, JPMorgan Chase & Co. upgraded Funko from a “neutral” rating to an “overweight” rating and raised its target price for the stock from $25.00 to $28.00 in a report on Thursday, June 23.

Funko stock performance

The NASDAQ FNKO traded $4.83 on Friday to hit $21.86. 66,180 shares of the stock traded hands, compared to its average volume of 778,055. The company’s fifty-day moving average is $23.04 and its two-hundred-day moving average is $19.50. Funko has a 12-month low of $15.28 and a 12-month high of $27.79. The company has a market capitalization of $1.09 billion, a price/earnings ratio of 19.50, a PEG ratio of 0.77 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a rapid ratio of 1.01 and a current ratio of 1.69.

Funko (NASDAQ:FNKO – Get Rating) last published its quarterly results on Thursday, August 4th. The company reported $0.26 per EPS for the quarter, beating analyst consensus estimates of $0.22 by $0.04. Funko had a return on equity of 18.40% and a net margin of 4.12%. The company had revenue of $315.72 million during the quarter, compared to analyst estimates of $292.63 million. During the same period last year, the company earned $0.35 per share. Business revenue in the quarter grew 33.7% over the previous year. As a group, equity analysts anticipate that Funko will post 1.68 EPS for the current fiscal year.

Internal purchase and sale

In related news, director Kenneth R. Brotman sold 4,720 shares in a transaction on Thursday, May 19th. The stock sold at an average price of $21.00 for a total value of $99,120.00. After the sale, the director now owns 1,180 shares of the company, valued at $24,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. In other Funko news, source Tracy D. Daw sold 7,893 shares of the company in a transaction dated Thursday, June 23. The stock sold at an average price of $22.64, for a total transaction of $178,697.52. After the sale, the insider now owns 5,326 shares of the company, valued at $120,580.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website. In addition, director Kenneth R. Brotman sold 4,720 shares of the company in a transaction dated Thursday, May 19th. The shares sold at an average price of $21.00 for a total value of $99,120.00. After the sale, the director now owns 1,180 shares of the company, valued at approximately $24,780. Disclosure for this sale can be found here. Last quarter, insiders sold 55,148 shares of the company worth $1,288,842. Corporate insiders own 12.56% of the company’s shares.

Institutional investors evaluate Funko

Major investors have recently increased or reduced their holdings in the company. Point72 Hong Kong Ltd bought a new stake in Funko during the fourth quarter valued at around US$33,000. Lazard Asset Management LLC increased its holding in Funko by 221.3% during the first quarter. Lazard Asset Management LLC now owns 4,154 shares of the company valued at $71,000 after purchasing an additional 2,861 shares last quarter. Amalgamated Bank bought a new position in Funko stock in the first quarter worth about $75,000. Russell Investments Group Ltd. increased its holdings of Funko shares by 8,667.1% in the first quarter. Russell Investments Group Ltd. now owns 6,400 shares of the company worth $110,000 after purchasing an additional 6,327 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Funko shares by 28.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 7,335 shares of the company worth $138,000 after purchasing an additional 1,616 shares during the period. Hedge funds and other institutional investors own 66.08% of the company’s shares.

Funko company profile

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Funko, Inc, a pop culture consumer products company, designs, supplies and distributes licensed pop culture products in the United States, Europe and internationally. The company supplies vinyl, blind miniatures and action figures; fashion accessories, including bags, backpacks and wallets; clothing, such as T-shirts and hats; board games, plush products and accessories such as key chains, pens and brooches; housewares, comprising cups and other home accessories, non-fungible plugs and others.

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