Funko (NASDAQ:FNKO) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Funko (NASDAQ:FNKOGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04, Briefing.com reports. Funko had a return on equity of 18.40% and a net margin of 4.12%. The firm had revenue of $315.72 million during the quarter, compared to analyst estimates of $292.63 million. During the same quarter in the previous year, the business earned $0.35 EPS. Funko’s revenue for the quarter was up 33.7% compared to the same quarter last year. Funko updated its FY 2022 guidance to $1.88-$1.99 EPS and its FY22 guidance to $1.88-1.99 EPS.

Funko Price Performance

NASDAQ:FNKO traded down $4.89 during trading hours on Friday, hitting $21.81. 3,771,858 shares of the stock were exchanged, compared to its average volume of 660,999. Funko has a 52-week low of $15.28 and a 52-week high of $27.79. The firm’s fifty day moving average price is $23.06 and its 200 day moving average price is $19.53. The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.09 billion, a P/E ratio of 19.30, a P/E/G ratio of 0.77 and a beta of 1.91.

Insiders Place Their Bets

In other news, CEO Andrew Mark Perlmutter sold 41,733 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $23.76, for a total value of $991,576.08. Following the completion of the sale, the chief executive officer now directly owns 94,061 shares in the company, valued at $2,234,889.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth R. Brotman sold 4,720 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $21.00, for a total value of $99,120.00. Following the completion of the sale, the director now directly owns 1,180 shares in the company, valued at $24,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Mark Perlmutter sold 41,733 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $23.76, for a total value of $991,576.08. Following the completion of the transaction, the chief executive officer now owns 94,061 shares in the company, valued at $2,234,889.36. The disclosure for this sale can be found here. In the last three months, insiders sold 55,148 shares of company stock worth $1,288,842. Corporate insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its holdings in Funko by 11.6% in the first quarter. BNP Paribas Arbitrage SA now owns 8,185 shares of the company’s stock valued at $141,000 after acquiring an additional 850 shares during the last quarter. Wellington Management Group LLP acquired a new position in Funko during the first quarter worth $288,000. State Street Corp lifted its stake in Funko by 3.1% during the first quarter. State Street Corp now owns 488,492 shares of the company’s stock worth $8,426,000 after purchasing an additional 14,771 shares in the last quarter. Invesco Ltd. lifted its stake in Funko by 257.8% during the first quarter. Invesco Ltd. now owns 171,839 shares of the company’s stock worth $2,965,000 after purchasing an additional 123,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Funko by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 193,372 shares of the company’s stock worth $3,336,000 after purchasing an additional 8,162 shares in the last quarter. 66.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Funko from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $28.00 in a research note on Thursday, June 23rd. DA Davidson cut their price objective on Funko from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday.

Funko Company Profile

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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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.

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Earnings History for Funko (NASDAQ:FNKO)

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