Funko (NASDAQ:FNKO) Reaches New 12-Month High – Here’s Why

Funko, Inc. (NASDAQ:FNKO) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.17 and last traded at $14.02, with a volume of 573052 shares traded. The stock had previously closed at $13.99.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FNKO shares. Stifel Nicolaus lifted their price objective on shares of Funko from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday. DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Funko in a research report on Thursday, January 2nd. Finally, B. Riley upped their price objective on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

Funko Price Performance

The stock’s 50 day moving average is $11.79 and its two-hundred day moving average is $10.93. The stock has a market capitalization of $759.32 million, a PE ratio of -29.21 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.

Insider Buying and Selling at Funko

In related news, insider Andrew David Oddie sold 27,712 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total transaction of $378,823.04. Following the completion of the sale, the insider now owns 20,186 shares in the company, valued at $275,942.62. The trade was a 57.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy D. Daw sold 14,650 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $12.55, for a total transaction of $183,857.50. Following the completion of the transaction, the insider now owns 6,362 shares in the company, valued at $79,843.10. This represents a 69.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,720 shares of company stock valued at $1,576,493. Insiders own 4.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Funko by 5,486.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company’s stock worth $10,133,000 after acquiring an additional 814,357 shares in the last quarter. Marshall Wace LLP increased its position in shares of Funko by 160.1% during the second quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock worth $10,375,000 after purchasing an additional 654,359 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 worth $34,609,000 after purchasing an additional 619,114 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Funko in the 2nd quarter valued at about $1,138,000. Finally, American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 112,007 shares during the period. Institutional investors and hedge funds 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.