Funko (NASDAQ:FNKO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “
Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group set a $23.00 price objective on Funko and gave the company a “buy” rating in a research note on Wednesday, November 28th. Piper Jaffray Companies set a $24.00 price objective on Funko and gave the company a “buy” rating in a research note on Wednesday, November 21st. Finally, BMO Capital Markets lifted their price objective on Funko from $10.50 to $12.00 and gave the company a “market perform” rating in a research note on Thursday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.88.
Funko (NASDAQ:FNKO) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. Funko had a return on equity of 10.69% and a net margin of 1.55%. The business had revenue of $176.90 million during the quarter, compared to analysts’ expectations of $166.07 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 23.9% on a year-over-year basis. On average, equities analysts predict that Funko will post 0.56 earnings per share for the current year.
In related news, President Andrew Mark Perlmutter sold 30,000 shares of the business’s stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $15.02, for a total transaction of $450,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.39% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNKO. Bank of America Corp DE grew its stake in Funko by 51.9% during the 2nd quarter. Bank of America Corp DE now owns 9,799 shares of the company’s stock worth $123,000 after purchasing an additional 3,348 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Funko during the 2nd quarter worth about $138,000. Rhumbline Advisers acquired a new position in shares of Funko during the 3rd quarter worth about $214,000. Trexquant Investment LP acquired a new position in shares of Funko during the 3rd quarter worth about $223,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Funko by 18.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,400 shares of the company’s stock worth $244,000 after acquiring an additional 3,000 shares in the last quarter. 40.35% of the stock is owned by hedge funds and other institutional investors.
Funko Company Profile
Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.
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