Funko (NASDAQ:FNKO) Stock Price Down 10.3% – Should You Sell?

Funko, Inc. (NASDAQ:FNKO) shares dropped 10.3% during mid-day trading on Thursday . The stock traded as low as $10.24 and last traded at $10.09. Approximately 579,745 shares traded hands during trading, a decline of 17% from the average daily volume of 701,800 shares. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

FNKO has been the topic of several research analyst reports. DA Davidson dropped their target price on shares of Funko from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday. Stifel Nicolaus lifted their price objective on Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, January 3rd.

Funko Trading Down 13.5 %

The company has a 50 day moving average of $13.27 and a 200 day moving average of $12.08. 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 stock has a market capitalization of $485.78 million, a price-to-earnings ratio of -18.69 and a beta of 0.94.

Insider Activity

In related news, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $12.55, for a total value of $183,857.50. Following the completion of the sale, the insider now owns 6,362 shares of the company’s stock, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew David Oddie sold 27,712 shares of Funko stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total value of $378,823.04. Following the transaction, the insider now owns 20,186 shares in the company, valued at approximately $275,942.62. The trade was a 57.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,079 shares of company stock worth $572,769 over the last three months. Insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

A number of hedge funds have recently modified their holdings of FNKO. Mackenzie Financial Corp purchased a new position in Funko during the fourth quarter worth about $599,000. Wolverine Trading LLC purchased a new stake in shares of Funko during the 4th quarter valued at approximately $489,000. Vident Advisory LLC lifted its holdings in Funko by 48.8% in the fourth quarter. Vident Advisory LLC now owns 39,833 shares of the company’s stock valued at $533,000 after acquiring an additional 13,057 shares during the last quarter. State of Wyoming lifted its holdings in Funko by 115.2% in the fourth quarter. State of Wyoming now owns 22,731 shares of the company’s stock valued at $304,000 after acquiring an additional 12,169 shares during the last quarter. Finally, Man Group plc purchased a new position in Funko in the fourth quarter worth approximately $293,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Company Profile

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.