Funko (NASDAQ:FNKO) Sees Strong Trading Volume – What’s Next?

Funko, Inc. (NASDAQ:FNKO) saw unusually-strong trading volume on Tuesday . Approximately 673,846 shares changed hands during trading, an increase of 28% from the previous session’s volume of 526,147 shares.The stock last traded at $11.30 and had previously closed at $11.42.

Wall Street Analyst Weigh In

FNKO has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on shares of Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson reiterated a “buy” rating and set a $16.00 price objective on shares of Funko in a research note on Thursday, November 14th. Finally, B. Riley boosted their price objective on shares of Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

Funko Price Performance

The company has a market cap of $622.84 million, a PE ratio of -23.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The stock’s 50-day moving average is $11.58 and its 200 day moving average is $10.51.

Insider Transactions at Funko

In related news, insider Andrew David Oddie sold 10,800 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total value of $129,924.00. Following the sale, the insider now owns 40,372 shares in the company, valued at $485,675.16. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael C. Lunsford sold 97,000 shares of Funko stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $10.40, for a total transaction of $1,008,800.00. Following the transaction, the director now directly owns 11,613 shares of the company’s stock, valued at approximately $120,775.20. This trade represents a 89.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,805 shares of company stock worth $1,366,661. Insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

A number of institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in Funko during the second quarter worth $25,000. Walleye Capital LLC acquired a new position in Funko during the third quarter worth about $129,000. SG Americas Securities LLC purchased a new stake in shares of Funko in the third quarter valued at about $136,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Funko in the 2nd quarter valued at approximately $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Funko during the 3rd quarter valued at approximately $196,000. Institutional investors and hedge funds 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.