Funko Inc (FNKO) Short Interest Up 36.2% in August
Funko Inc (NASDAQ:FNKO) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,332,001 shares, an increase of 36.2% from the August 15th total of 978,179 shares. Approximately 40.0% of the shares of the stock are short sold. Based on an average daily volume of 612,523 shares, the days-to-cover ratio is presently 2.2 days.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Funko by 4.4% during the second quarter. BlackRock Inc. now owns 560,360 shares of the company’s stock worth $7,033,000 after acquiring an additional 23,584 shares during the last quarter. Citadel Advisors LLC boosted its position 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 last quarter. Feinberg Stephen acquired a new position in Funko during the second quarter worth about $2,242,000. EAM Global Investors LLC acquired a new position in Funko during the second quarter worth about $1,567,000. Finally, EAM Investors LLC acquired a new position in Funko during the second quarter worth about $1,241,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.
Several analysts have recently issued reports on FNKO shares. Jefferies Financial Group set a $20.00 target price on shares of Funko and gave the company a “buy” rating in a research report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Funko from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 4th. BMO Capital Markets lifted their target price on shares of Funko from $8.00 to $10.50 and gave the company a “market perform” rating in a research report on Monday, August 13th. Piper Jaffray Companies set a $18.00 target price on shares of Funko and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Bank of America lifted their target price on shares of Funko from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.94.
Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $138.70 million for the quarter, compared to analyst estimates of $122.54 million. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. research analysts predict that Funko will post 0.69 earnings per share for the current fiscal year.
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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