Millennium Management LLC lessened its stake in Funko Inc (NASDAQ:FNKO) by 60.5% during the first quarter, HoldingsChannel reports. The firm owned 26,954 shares of the company’s stock after selling 41,215 shares during the period. Millennium Management LLC’s holdings in Funko were worth $221,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of FNKO. BlackRock Inc. acquired a new stake in Funko during the fourth quarter worth about $3,542,000. Citadel Advisors LLC raised its stake in Funko by 203.8% during the first quarter. Citadel Advisors LLC now owns 225,578 shares of the company’s stock worth $1,852,000 after acquiring an additional 151,326 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Funko during the fourth quarter worth about $606,000. Deutsche Bank AG acquired a new stake in Funko during the fourth quarter worth about $157,000. Finally, Geode Capital Management LLC acquired a new stake in Funko during the fourth quarter worth about $137,000. Institutional investors and hedge funds own 9.36% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Funko from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. BMO Capital Markets increased their price objective on shares of Funko from $8.00 to $10.50 and gave the stock a “market perform” rating in a research note on Monday, August 13th. Piper Jaffray Companies set a $24.00 price objective on shares of Funko and gave the stock a “buy” rating in a research note on Thursday, August 9th. Jefferies Financial Group reiterated a “buy” rating and set a $23.00 price objective on shares of Funko in a research note on Friday, August 10th. Finally, Stifel Nicolaus increased their price objective on shares of Funko from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.94.
Shares of NASDAQ:FNKO opened at $21.55 on Wednesday. Funko Inc has a 52 week low of $5.81 and a 52 week high of $22.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.03 and a current ratio of 1.55.
Funko (NASDAQ:FNKO) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. Funko had a net margin of 2.70% and a return on equity of 9.68%. The company had revenue of $138.70 million for the quarter, compared to analyst estimates of $122.54 million. The business’s revenue was up 32.5% compared to the same quarter last year. analysts predict that Funko Inc will post 0.69 earnings per share for the current year.
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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