Funko (NASDAQ:FNKO) Given New $2.50 Price Target at The Goldman Sachs Group

Funko (NASDAQ:FNKO) had its price target cut by equities researchers at The Goldman Sachs Group from $5.50 to $2.50 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 10.07% from the stock’s current price.

FNKO has been the topic of a number of other reports. Wall Street Zen lowered Funko from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. DA Davidson restated a “buy” rating and issued a $7.00 target price on shares of Funko in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.13.

Funko Stock Performance

NASDAQ:FNKO opened at $2.78 on Thursday. The firm has a market cap of $153.93 million, a price-to-earnings ratio of -2.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.54 and a current ratio of 0.64. The business’s fifty day moving average is $4.35 and its 200 day moving average is $6.37. Funko has a 52-week low of $2.22 and a 52-week high of $14.65.

Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.30). The business had revenue of $193.47 million during the quarter, compared to the consensus estimate of $206.18 million. Funko had a negative return on equity of 19.97% and a negative net margin of 6.72%. Funko’s revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts predict that Funko will post -0.12 EPS for the current year.

Insider Activity at Funko

In other news, CEO Cynthia W. Williams sold 47,457 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $3.94, for a total transaction of $186,980.58. Following the transaction, the chief executive officer directly owned 32,769 shares in the company, valued at approximately $129,109.86. This represents a 59.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Funko

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Funko during the 2nd quarter valued at about $51,000. Hsbc Holdings PLC bought a new position in shares of Funko during the 4th quarter valued at about $152,000. CWM LLC increased its position in shares of Funko by 571.4% during the 2nd quarter. CWM LLC now owns 13,528 shares of the company’s stock valued at $64,000 after purchasing an additional 11,513 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Funko during the 4th quarter valued at about $183,000. Finally, Caxton Associates LP bought a new position in shares of Funko during the 4th quarter valued at about $203,000. 99.15% of the stock is currently owned by institutional investors.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.