DA Davidson Reiterates “Buy” Rating for Funko (NASDAQ:FNKO)

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $16.00 price objective on the stock. DA Davidson’s target price indicates a potential upside of 54.44% from the stock’s current price. DA Davidson also issued estimates for Funko’s Q4 2024 earnings at ($0.03) EPS.

A number of other research firms also recently weighed in on FNKO. B. Riley increased their price objective on Funko from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Stifel Nicolaus increased their price objective on Funko from $9.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd.

Funko Price Performance

Shares of FNKO traded up $0.27 during trading hours on Thursday, reaching $10.36. The stock had a trading volume of 975,708 shares, compared to its average volume of 527,660. The stock has a market capitalization of $558.82 million, a PE ratio of -21.58 and a beta of 1.21. Funko has a 12 month low of $5.36 and a 12 month high of $12.61. The company’s 50-day moving average is $11.62 and its two-hundred day moving average is $10.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.59 and a current ratio of 0.96.

Insider Activity

In related news, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $120,000.00. Following the transaction, the insider now owns 6,362 shares of the company’s stock, valued at approximately $76,344. This trade represents a 61.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew David Oddie sold 10,800 shares of Funko stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $12.03, for a total transaction of $129,924.00. Following the transaction, the insider now directly owns 40,372 shares in the company, valued at approximately $485,675.16. This represents a 21.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,805 shares of company stock worth $357,861 in the last three months. Company insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

Several large investors have recently modified their holdings of FNKO. Assenagon Asset Management S.A. purchased a new stake in shares of Funko during the 2nd quarter worth approximately $6,996,000. Marshall Wace LLP grew its stake in Funko by 160.1% in the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after buying an additional 654,359 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Funko by 21.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock valued at $34,609,000 after buying an additional 619,114 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Funko in the 2nd quarter valued at approximately $1,138,000. Finally, American Century Companies Inc. grew its stake in Funko by 81.1% in the 2nd quarter. American Century Companies Inc. now owns 250,121 shares of the company’s stock valued at $2,441,000 after buying an additional 112,007 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

About Funko

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.