Zacks Research Upgrades Funko (NASDAQ:FNKO) to Hold

Funko (NASDAQ:FNKO) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $6.75 target price on shares of Funko in a research note on Monday, August 10th. Seaport Research Partners began coverage on Funko in a research note on Monday. They set a “buy” rating and a $8.00 price target for the company. DA Davidson boosted their price target on Funko from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Funko from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.08.

Funko Price Performance

Shares of NASDAQ:FNKO opened at $6.74 on Wednesday. The company’s fifty day moving average is $5.86 and its two-hundred day moving average is $4.94. The company has a market cap of $376.97 million, a P/E ratio of -168.46 and a beta of 0.93. Funko has a 12-month low of $2.72 and a 12-month high of $7.04. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

Funko (NASDAQ:FNKO) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.47. The firm had revenue of $207.72 million for the quarter, compared to analyst estimates of $200.96 million. Funko had a positive return on equity of 2.61% and a negative net margin of 0.21%. Equities analysts expect that Funko will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles D. Denson acquired 72,992 shares of the stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $6.85 per share, with a total value of $499,995.20. Following the acquisition, the director owned 269,084 shares in the company, valued at approximately $1,843,225.40. The trade was a 37.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Funko

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Funko during the second quarter valued at approximately $494,000. Bank of New York Mellon Corp acquired a new stake in shares of Funko in the second quarter worth $648,000. Empowered Funds LLC lifted its stake in shares of Funko by 10.3% in the first quarter. Empowered Funds LLC now owns 223,589 shares of the company’s stock worth $704,000 after buying an additional 20,882 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Funko during the 1st quarter worth $137,000. Finally, SEB Asset Management AB acquired a new position in Funko in the 1st quarter valued at $235,000. Institutional investors own 99.15% of the company’s stock.

About Funko

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.