Funko (FNKO) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Funko (NASDAQ:FNKO) posted its quarterly earnings results on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04, Briefing.com reports. The business had revenue of $176.90 million for the quarter, compared to analysts’ expectations of $166.07 million. Funko had a return on equity of 9.68% and a net margin of 2.70%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share.

FNKO traded down $4.28 during midday trading on Friday, reaching $15.67. 2,401,508 shares of the company were exchanged, compared to its average volume of 440,958. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 0.74. Funko has a one year low of $5.81 and a one year high of $31.12. The stock has a market cap of $1.01 billion and a P/E ratio of 52.23.

FNKO has been the topic of several recent research reports. Zacks Investment Research cut Funko from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. JPMorgan Chase & Co. raised their target price on Funko from $14.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. BMO Capital Markets raised their target price on Funko from $8.00 to $10.50 and gave the stock a “market perform” rating in a report on Monday, August 13th. Piper Jaffray Companies set a $24.00 target price on Funko and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a $23.00 target price on shares of Funko in a report on Friday, August 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Funko currently has a consensus rating of “Buy” and a consensus target price of $18.72.

In other Funko news, President Andrew Mark Perlmutter sold 55,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $20.02, for a total transaction of $1,101,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Tracy D. Daw sold 10,000 shares of Funko stock in a transaction dated 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. 18.39% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Funko by 18.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,400 shares of the company’s stock valued at $244,000 after purchasing an additional 3,000 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Funko by 51.9% during the 2nd quarter. Bank of America Corp DE now owns 9,799 shares of the company’s stock valued at $123,000 after purchasing an additional 3,348 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Funko by 5.5% during the 2nd quarter. Northern Trust Corp now owns 112,365 shares of the company’s stock valued at $1,410,000 after purchasing an additional 5,849 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Funko during the 3rd quarter valued at about $214,000. Finally, Trexquant Investment LP bought a new position in shares of Funko during the 3rd quarter valued at about $223,000. Institutional investors and hedge funds own 37.71% of the company’s stock.

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About Funko

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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