Funko (FNKO) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Funko (NASDAQ:FNKO) from a hold rating to a strong sell rating in a report published on Friday.

According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Funko from $14.00 to $24.00 and gave the stock an overweight rating in a research report on Friday, August 10th. BMO Capital Markets increased their price target on Funko from $8.00 to $10.50 and gave the stock a market perform rating in a research report on Monday, August 13th. Piper Jaffray Companies set a $24.00 price target on Funko and gave the stock a buy rating in a research report on Thursday, August 9th. Finally, Jefferies Financial Group reaffirmed a buy rating and issued a $23.00 target price on shares of Funko in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Funko presently has an average rating of Buy and an average target price of $19.88.

NASDAQ:FNKO traded down $0.44 during trading hours on Friday, reaching $14.37. 245,595 shares of the company were exchanged, compared to its average volume of 508,996. The company has a market capitalization of $716.30 million and a P/E ratio of 47.90. Funko has a 1-year low of $5.81 and a 1-year high of $31.12. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 0.99.

Funko (NASDAQ:FNKO) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $176.90 million for the quarter, compared to the consensus estimate of $166.07 million. Funko had a return on equity of 10.69% and a net margin of 1.55%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. On average, sell-side analysts anticipate that Funko will post 0.56 EPS for the current fiscal year.

In other Funko news, President Andrew Mark Perlmutter sold 55,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $20.02, for a total value of $1,101,100.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $20.36, for a total value of $203,600.00. The disclosure for this sale can be found here. Company insiders own 18.39% of the company’s stock.

Several hedge funds have recently modified their holdings of FNKO. Engineers Gate Manager LP boosted its holdings in shares of Funko by 79.1% in the 2nd quarter. Engineers Gate Manager LP now owns 25,760 shares of the company’s stock valued at $323,000 after purchasing an additional 11,380 shares in the last quarter. EAM Investors LLC bought a new position in shares of Funko in the 2nd quarter valued at $1,241,000. Quantitative Systematic Strategies LLC bought a new position in shares of Funko in the 2nd quarter valued at $176,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Funko by 18.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,400 shares of the company’s stock valued at $244,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of Funko in the 2nd quarter valued at $682,000. 40.35% of the stock is currently owned by hedge funds and other 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, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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