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

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

FNKO stock traded down $4.28 during midday trading on Friday, hitting $15.67. 2,401,508 shares of the company’s stock 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. The firm has a market cap of $1.01 billion and a PE ratio of 52.23. Funko has a one year low of $5.81 and a one year high of $31.12.

In other Funko news, President Andrew Mark Perlmutter sold 55,000 shares of Funko 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tracy D. Daw sold 10,000 shares of Funko stock in a transaction dated Tuesday, September 18th. The stock was 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. Insiders own 18.39% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Funko by 22.0% during the third quarter. BlackRock Inc. now owns 683,376 shares of the company’s stock worth $16,190,000 after acquiring an additional 123,016 shares in the last quarter. Feinberg Stephen bought a new position in Funko during the second quarter worth about $2,242,000. SG Americas Securities LLC bought a new position in Funko during the third quarter worth about $4,125,000. Systematic Financial Management LP bought a new position in Funko during the third quarter worth about $3,188,000. Finally, EAM Global Investors LLC bought a new position in Funko during the second quarter worth about $1,567,000. Hedge funds and other institutional investors own 37.71% of the company’s stock.

Several research analysts have recently issued reports on the company. Piper Jaffray Companies set a $18.00 price target on Funko and gave the stock a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research lowered Funko from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Stifel Nicolaus raised their price target on Funko from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. JPMorgan Chase & Co. raised their price target on Funko from $14.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Finally, Jefferies Financial Group set a $20.00 price target on Funko and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $18.72.

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Funko Company Profile

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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