Funko (NASDAQ:FNKO) Releases Earnings Results, Beats Estimates By $0.04 EPS

Funko (NASDAQ:FNKOGet Rating) issued its quarterly earnings data on Thursday. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04, Briefing.com reports. Funko had a net margin of 4.12% and a return on equity of 18.40%. The business had revenue of $315.72 million during the quarter, compared to analysts’ expectations of $292.63 million. During the same period last year, the company posted $0.35 EPS. The company’s revenue was up 33.7% on a year-over-year basis. Funko updated its FY 2022 guidance to $1.88-$1.99 EPS and its FY22 guidance to $1.88-1.99 EPS.

Funko Stock Down 18.3 %

Shares of Funko stock traded down $4.89 during trading on Friday, reaching $21.81. The company had a trading volume of 3,771,858 shares, compared to its average volume of 660,999. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 0.77 and a beta of 1.91. The firm’s fifty day moving average is $23.06 and its 200-day moving average is $19.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.01 and a current ratio of 1.69. Funko has a fifty-two week low of $15.28 and a fifty-two week high of $27.79.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. DA Davidson dropped their price objective on shares of Funko from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. raised shares of Funko from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $25.00 to $28.00 in a research note on Thursday, June 23rd.

Insider Activity

In related news, Director Kenneth R. Brotman sold 4,720 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $21.00, for a total transaction of $99,120.00. Following the completion of the sale, the director now owns 1,180 shares of the company’s stock, valued at approximately $24,780. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Tracy D. Daw sold 7,893 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $22.64, for a total transaction of $178,697.52. Following the completion of the sale, the insider now owns 5,326 shares of the company’s stock, valued at approximately $120,580.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth R. Brotman sold 4,720 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $21.00, for a total transaction of $99,120.00. Following the sale, the director now directly owns 1,180 shares of the company’s stock, valued at approximately $24,780. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,148 shares of company stock worth $1,288,842. 12.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Funko

A number of institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Funko by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 193,372 shares of the company’s stock worth $3,336,000 after purchasing an additional 8,162 shares during the last quarter. Federated Hermes Inc. grew its position in Funko by 1.8% in the 1st quarter. Federated Hermes Inc. now owns 185,845 shares of the company’s stock worth $3,206,000 after purchasing an additional 3,375 shares during the last quarter. Invesco Ltd. grew its position in Funko by 257.8% in the 1st quarter. Invesco Ltd. now owns 171,839 shares of the company’s stock worth $2,965,000 after purchasing an additional 123,818 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Funko in the 1st quarter worth about $2,427,000. Finally, JPMorgan Chase & Co. grew its position in Funko by 456.1% in the 1st quarter. JPMorgan Chase & Co. now owns 57,662 shares of the company’s stock worth $995,000 after purchasing an additional 47,293 shares during the last quarter. Institutional investors own 66.08% of the company’s stock.

About Funko

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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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.

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Earnings History for Funko (NASDAQ:FNKO)

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