Jacobs Levy Equity Management Inc. Sells 340,525 Shares of Funko, Inc. (NASDAQ:FNKO)

Jacobs Levy Equity Management Inc. trimmed its stake in Funko, Inc. (NASDAQ:FNKO) by 72.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,774 shares of the company’s stock after selling 340,525 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Funko were worth $1,549,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Funko in the second quarter valued at $25,000. Walleye Capital LLC acquired a new stake in Funko in the third quarter valued at $129,000. SG Americas Securities LLC bought a new position in shares of Funko in the 3rd quarter valued at about $136,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Funko in the 2nd quarter valued at about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Funko during the 3rd quarter worth about $196,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FNKO shares. DA Davidson reiterated a “buy” rating and set a $16.00 price target on shares of Funko in a report on Thursday, November 14th. B. Riley lifted their target price on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus boosted their target price on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd.

Insider Activity

In related news, insider Andrew David Oddie sold 10,800 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $12.03, for a total value of $129,924.00. Following the transaction, the insider now directly owns 40,372 shares in the company, valued at approximately $485,675.16. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $120,000.00. Following the transaction, the insider now directly owns 6,362 shares in the company, valued at approximately $76,344. This represents a 61.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,805 shares of company stock valued at $1,366,661. 4.81% of the stock is owned by insiders.

Funko Stock Down 1.7 %

Funko stock opened at $11.67 on Monday. The company’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $10.48. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The stock has a market cap of $632.05 million, a P/E ratio of -24.31 and a beta of 1.22. Funko, Inc. has a twelve month low of $5.36 and a twelve month high of $12.61.

Funko 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.