Funko’s (FNKO) “Buy” Rating Reaffirmed at DA Davidson

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating restated by equities researchers at DA Davidson in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. DA Davidson’s price objective would indicate a potential upside of 14.37% from the stock’s current price.

Several other research firms have also recently issued reports on FNKO. B. Riley increased their target price on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Stifel Nicolaus increased their price objective on shares of Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd.

Funko Trading Up 2.9 %

Shares of Funko stock opened at $13.99 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. The company has a fifty day moving average of $11.75 and a 200 day moving average of $10.90. The company has a market capitalization of $757.64 million, a P/E ratio of -29.15 and a beta of 1.22. Funko has a fifty-two week low of $5.36 and a fifty-two week high of $14.07.

Insider Activity

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

Institutional Trading of Funko

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Funko during the second quarter worth approximately $25,000. Walleye Capital LLC bought a new position in shares of Funko during the 3rd quarter valued at approximately $129,000. SG Americas Securities LLC purchased a new stake in Funko during the 3rd quarter valued at $136,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Funko in the second quarter worth $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Funko during the third quarter worth $196,000. 99.15% of the stock is currently owned by hedge funds and other 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.