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

Funko (NASDAQ:FNKO)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research note issued on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 14.37% from the stock’s current price.

A number of other equities analysts have also recently commented on FNKO. Stifel Nicolaus lifted their target price on shares of Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. B. Riley lifted their price objective on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 12th.

Funko Stock Up 2.9 %

Shares of NASDAQ FNKO opened at $13.99 on Thursday. The stock has a market capitalization of $757.64 million, a P/E ratio of -29.15 and a beta of 1.22. Funko has a one year low of $5.36 and a one year high of $14.07. The firm’s 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $10.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64.

Insiders Place Their Bets

In other news, insider Tracy D. Daw sold 14,650 shares of Funko 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 directly owns 6,362 shares in the company, valued at approximately $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael C. Lunsford sold 97,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $10.40, for a total value of $1,008,800.00. Following the completion of the sale, the director now directly owns 11,613 shares in the company, valued at $120,775.20. This trade represents a 89.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNKO. Bank of New York Mellon Corp raised its holdings in shares of Funko by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company’s stock valued at $1,111,000 after purchasing an additional 10,034 shares during the last quarter. Rhumbline Advisers raised its stake in Funko by 9.0% during the 2nd quarter. Rhumbline Advisers now owns 54,180 shares of the company’s stock valued at $529,000 after buying an additional 4,475 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Funko during the 2nd quarter valued at $388,000. Quest Partners LLC purchased a new position in shares of Funko in the 2nd quarter worth $25,000. Finally, Chesapeake Capital Corp IL bought a new stake in shares of Funko in the second quarter worth $336,000. 99.15% of the stock is owned by institutional investors.

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.