In recent transactions involving Funko, Inc. (NASDAQ:FNKO), Chief Legal Officer Tracy D. Daw reported the sale of Class A common stock valued at approximately $183,901. The shares were sold at a weighted average price of $12.553, with individual transaction prices ranging from $12.50 to $12.61. These transactions occurred as the stock trades near its 52-week high of $12.61, having delivered an impressive 63.71% return over the past year. According to InvestingPro analysis, the stock appears slightly overvalued at its current market capitalization of $671.54 million.
Additionally, Daw exercised options to acquire 14,650 shares of Class A common stock at a price of $4.01 per share, with the total transaction amounting to $58,746. These activities were conducted as part of a 10b5-1 trading plan established by Daw in September 2024.
Following these transactions, Daw holds 6,362 shares of Funko's Class A common stock.
In other recent news, Funko Inc (NASDAQ:FNKO). has seen a series of noteworthy developments. The company reported Q3 2024 financial results, with net sales of $293 million and a gross margin of 41%. Adjusted EBITDA stood at $31 million, exceeding expectations. The full-year net sales forecast was adjusted to a range of $1.037 billion to $1.05 billion, and the adjusted EBITDA projection was raised to between $85 million and $90 million.
In another significant move, Funko expanded its Board of Directors, appointing Jason Harinstein, a veteran in the collectibles industry. Harinstein's appointment aligns with Funko's strategic commitment to strengthening its leadership amidst a dynamic industry.
On the analysis front, Goldman Sachs (NYSE:GS) maintained its Sell rating on Funko, despite recognizing the company's progress in improving its main distribution center in Buckeye, Arizona. The firm acknowledged significant advancements in inventory management and logistical operations.
These recent developments underline Funko's focus on enhancing its operational efficiency, financial performance, and leadership. The company's concentration on expanding direct-to-consumer sales, particularly in Canada, reflects its strategic initiatives to drive growth and profitability.
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