PDT Partners LLC Lowers Position in Funko, Inc. (NASDAQ:FNKO)

PDT Partners LLC cut its position in shares of Funko, Inc. (NASDAQ:FNKO) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,429 shares of the company’s stock after selling 7,524 shares during the quarter. PDT Partners LLC’s holdings in Funko were worth $934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Funko during the second quarter worth about $6,996,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Funko by 21.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock valued at $34,609,000 after purchasing an additional 619,114 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Funko during the third quarter valued at approximately $136,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Funko in the 3rd quarter worth approximately $860,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Funko in the 2nd quarter worth approximately $1,138,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Funko Stock Performance

Shares of FNKO opened at $11.75 on Monday. Funko, Inc. has a 12 month low of $5.36 and a 12 month high of $12.61. The business’s fifty day simple moving average is $11.62 and its two-hundred day simple moving average is $10.37. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a market cap of $636.38 million, a price-to-earnings ratio of -24.48 and a beta of 1.21.

Insider Activity at Funko

In other news, Director Michael C. Lunsford sold 97,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 11,613 shares of the company’s stock, valued at $120,775.20. This trade represents a 89.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $120,000.00. Following the transaction, the insider now directly owns 6,362 shares of the company’s stock, valued at $76,344. The trade was a 61.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,805 shares of company stock valued at $1,366,661 over the last ninety days. Insiders own 4.81% of the company’s stock.

Wall Street Analysts Forecast Growth

FNKO has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. B. Riley upped their price target 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. Finally, DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th.

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.