In November, short interest in Funko, Inc. (NASDAQ: FNKO) sharply increased. As of November 15, there were 2,350,000 total shares, including 2,350,000 shares of short interest, an increase of 13.0% from the 2,080,000 total shares as of October 31. Approximately 7.6% of the shares of the stock have been sold short. Based on an average daily trading volume of 1,050,000 shares, the short-interest ratio is 2.2 days.
The most recent earnings report from Funko (NASDAQ: FNKO) was made public on November 3. The company’s quarterly earnings per share (EPS) of $0.22 fell short ($0.23) of the $0.45 analysts had projected. The company’s quarterly sales were $365.61 million, as opposed to analysts’ estimates of $317.16 million. Funko’s net margin was 3.46%, while its return on equity was 13.55%. Research experts forecast that Funko will produce $0.56 in earnings per share for the current fiscal year.
On Friday, the price of FNKO stock rose $0.72 to $10.51. As usual, the stock’s trading volume fell from 2,114,151 shares to 1,262,050 shares. With a market capitalization of $530.54 million, a price-to-earnings-growth ratio of 0.97, a price-to-earnings-to-earnings ratio of 10.72, and a beta of 1.65, the company is performing well. The company’s debt-to-equity ratio is 0.33, its current ratio is 1.38, and its quick ratio is 0.67. The 52-week high and low for Funko are $27.79 and $7.60, respectively. The company’s fifty-day moving average price is $16.07, and its 200-day moving average price is $20.15.
Recently, several research analysts made recommendations to the company.JPMorgan Chase & Co. downgraded Funko from “overweight” to “neutral” in a research note published on Friday, November 4, and lowered their target price for the stock from $32.00 to $16.00. On November 7, earlier this week, the Goldman Sachs Group reduced Funko’s target price from $25.50 to $22.00. Additionally, the company rated the stock as “neutral.” Bank of America reduced their “buy” recommendation for Funko from “buy” to “neutral” and their target price for the stock from $35.00 to $9.00 in a research report published on Monday, November 7. Trust Financial downgraded Funko’s stock from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $13.00 in a research note released on Friday, November 4. Last but not least, in a research study released on Monday, November 7, BMO Capital Markets lowered Funko’s shares from “outperform” to “market perform.” Five research specialists have rated the company as a buy, while two have advised purchasing it. According to Bloomberg, Funko now has a consensus target price of $17.14 and an average rating of “Hold.”
CFO Jung Jennifer Fall sold 37,207 shares of Funko stock on September 19. The shares brought in $870,271.73 when sold for an average price of $23.39 each. Following the sale, the chief financial officer owns 52,310 company shares worth about $1,223,530.90. You can access a legal document that described the transaction and was submitted to the SEC by clicking this link. Insider Tracy D. Daw sold 26,800 shares of the company’s stock in another incident on September 19. The stock was sold for a total of $610,504.00, with an average share price of $22.78. As a result of the sale, the insider now owns 46,730 company shares with a market value of $1,064,509.40. The sale was announced in a court document submitted to the SEC and made available online to the public. CFO Jung Jennifer Fall sold an additional 37,207 company stock on Monday, September 19. The shares brought in $870,271.73 when sold for an average price of $23.39 each. As a result of the purchase, the chief financial officer now owns 52,310 company shares worth $1,223,530.90. The disclosure for this sale is available here. Currently, 12.56% of the stock of the firm is owned by insiders.
Several hedge funds and institutional investors recently changed the number of shares they owned in the company. Price T. Rowe Associates Inc. (MD) grew its holdings in Funko by 2.9% during the second quarter. Price T. Rowe Associates Inc. now owns 21,338 shares of the company’s stock, valued at $476,000, after acquiring an additional 604 shares. BNP Paribas Arbitrage SA increased its holdings in Funko shares by 11.6% in the first quarter. BNP Paribas Arbitrage SA now owns 8,185 shares, worth $141,000, after acquiring an additional 850 shares during the last quarter. Allspring Global Investments Holdings LLC increased its ownership of Funko shares by 3.7% during the second quarter. Allspring Global Investments Holdings LLC now directly owns 36,573 shares of the company’s stock, valued at $816,000, after acquiring additional 1,299 shares during the last period. American International Group Inc. increased its holdings in Funko shares by 11.7% during the second quarter. American International Group Inc. now owns 14,900 shares valued at $333,000 after acquiring an additional 1,556 shares over the quarter. Finally, Rhumbline Advisers increased its position in Funko shares by 7.4% during the first quarter. . SinceHedge funds and institutional investors hold 80% of the company’s stock the beginning of the period, Rhumbline Advisers has added 25,819 more shares for a total purchase price of $445,000.
