Funko (NASDAQ:FNKO) Lowered to Strong Sell at ValuEngine

Funko (NASDAQ:FNKO) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets raised their price target on shares of Funko from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Zacks Investment Research raised shares of Funko from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Thursday, August 15th. Stifel Nicolaus raised their price target on shares of Funko from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. DA Davidson set a $32.00 price target on shares of Funko and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Bank of America raised their price target on shares of Funko from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.78.

Shares of NASDAQ:FNKO traded up $0.32 during midday trading on Thursday, hitting $19.87. The company’s stock had a trading volume of 436,638 shares, compared to its average volume of 741,501. The business’s 50 day simple moving average is $22.50 and its 200 day simple moving average is $22.01. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 1.89. The company has a market cap of $976.19 million, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 0.93 and a beta of 2.07. Funko has a 12-month low of $11.22 and a 12-month high of $27.89.

Funko (NASDAQ:FNKO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.15. The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $170.69 million. Funko had a net margin of 2.00% and a return on equity of 17.18%. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, sell-side analysts predict that Funko will post 1.04 earnings per share for the current fiscal year.

In other Funko news, CEO Brian Richard Mariotti sold 400,000 shares of Funko stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.42, for a total transaction of $10,168,000.00. Also, President Andrew Mark Perlmutter sold 56,250 shares of Funko stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.61, for a total transaction of $1,159,312.50. Insiders have sold 5,324,156 shares of company stock worth $132,979,091 over the last ninety days. 16.26% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new position in Funko during the second quarter worth about $31,000. Bank of Montreal Can raised its stake in Funko by 7,766.7% during the second quarter. Bank of Montreal Can now owns 1,416 shares of the company’s stock worth $34,000 after purchasing an additional 1,398 shares during the period. Freestone Capital Holdings LLC purchased a new position in Funko during the second quarter worth about $7,293,000. Cubist Systematic Strategies LLC raised its stake in Funko by 4.9% during the second quarter. Cubist Systematic Strategies LLC now owns 37,994 shares of the company’s stock worth $920,000 after purchasing an additional 1,784 shares during the period. Finally, First Trust Advisors LP raised its stake in Funko by 11.8% during the first quarter. First Trust Advisors LP now owns 20,936 shares of the company’s stock worth $455,000 after purchasing an additional 2,211 shares during the period. 50.69% of the stock is currently owned by institutional investors.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

See Also: Price to Earnings Ratio (PE) Basics

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Funko (NASDAQ:FNKO)

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