Funko, Inc. $FNKO Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Funko, Inc. (NASDAQ:FNKO) by 48.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,340,267 shares of the company’s stock after purchasing an additional 439,907 shares during the period. JPMorgan Chase & Co. owned 2.42% of Funko worth $4,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FNKO. Hosking Partners LLP acquired a new stake in shares of Funko in the 3rd quarter worth $4,853,000. Fund 1 Investments LLC raised its stake in Funko by 13.4% in the third quarter. Fund 1 Investments LLC now owns 5,413,887 shares of the company’s stock valued at $18,624,000 after buying an additional 640,000 shares during the last quarter. Manatuck Hill Partners LLC purchased a new stake in Funko in the second quarter valued at about $2,428,000. Millennium Management LLC acquired a new stake in Funko in the third quarter worth about $1,352,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Funko in the second quarter worth about $1,654,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FNKO shares. Truist Financial set a $6.50 price objective on shares of Funko in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Funko in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Funko from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Funko has an average rating of “Hold” and an average target price of $5.83.

Funko Stock Performance

NASDAQ FNKO opened at $3.25 on Friday. The firm has a market capitalization of $180.51 million, a P/E ratio of -2.62 and a beta of 0.57. The stock has a 50-day simple moving average of $4.05 and a two-hundred day simple moving average of $3.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 1.19. Funko, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.51.

Funko (NASDAQ:FNKO) last issued its earnings results on Thursday, March 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $273.10 million for the quarter, compared to the consensus estimate of $260.71 million. Funko had a negative return on equity of 25.96% and a negative net margin of 7.42%. On average, equities analysts forecast that Funko, Inc. will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tracy D. Daw sold 12,793 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $3.65, for a total transaction of $46,694.45. Following the sale, the insider owned 47,016 shares of the company’s stock, valued at $171,608.40. This trade represents a 21.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 44,210 shares of company stock valued at $173,146. Corporate insiders own 3.27% of the company’s stock.

Funko Profile

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.