Funko (FNKO) Stock Price Down 5.5% Following Insider Selling

Funko Inc (NASDAQ:FNKO) traded down 5.5% on Tuesday following insider selling activity. The stock traded as low as $18.62 and last traded at $18.79. 969,810 shares changed hands during trading, an increase of 88% from the average session volume of 515,696 shares. The stock had previously closed at $19.89.

Specifically, President Andrew Mark Perlmutter sold 30,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $15.02, for a total transaction of $450,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Fundamental Capital Partners, sold 248,865 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $21.57, for a total value of $5,368,018.05. The disclosure for this sale can be found here. Insiders have sold a total of 734,380 shares of company stock worth $14,406,106 in the last ninety days. Insiders own 18.39% of the company’s stock.

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FNKO has been the topic of a number of recent research reports. Zacks Investment Research cut Funko from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. BMO Capital Markets increased their price objective on Funko from $10.50 to $12.00 and gave the stock a “market perform” rating in a report on Thursday, November 15th. Piper Jaffray Companies set a $24.00 price objective on Funko and gave the stock a “buy” rating in a report on Wednesday, November 21st. Jefferies Financial Group set a $23.00 target price on Funko and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Finally, JPMorgan Chase & Co. upped their target price on Funko to $30.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Funko has an average rating of “Buy” and an average target price of $23.00.

The company has a market capitalization of $962.08 million, a price-to-earnings ratio of 27.50, a PEG ratio of 1.12 and a beta of 2.76. The company has a quick ratio of 0.99, a current ratio of 1.48 and a debt-to-equity ratio of 0.71.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sun Life Financial INC bought a new position in Funko in the 4th quarter worth about $61,000. Citigroup Inc. increased its stake in Funko by 152.7% in the 4th quarter. Citigroup Inc. now owns 7,284 shares of the company’s stock worth $96,000 after acquiring an additional 4,402 shares during the last quarter. Rhumbline Advisers bought a new position in Funko in the 3rd quarter worth about $214,000. Trexquant Investment LP bought a new position in Funko in the 3rd quarter worth about $223,000. Finally, Bank of America Corp DE increased its stake in Funko by 51.9% in the 2nd quarter. Bank of America Corp DE now owns 9,799 shares of the company’s stock worth $123,000 after acquiring an additional 3,348 shares during the last quarter. Institutional investors and hedge funds own 40.43% of the company’s stock.

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About Funko (NASDAQ:FNKO)

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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