Kartoon Studios (NASDAQ:TOON) Trading Down 0.1% – Here’s Why

Kartoon Studios Inc. (NASDAQ:TOON)’s stock price was down 0.1% on Tuesday . The stock traded as low as $0.5710 and last traded at $0.5890. Approximately 233,619 shares traded hands during trading, a decline of 73% from the average session volume of 872,114 shares. The stock had previously closed at $0.5893.

Kartoon Studios Trading Down 0.1%

The stock has a market capitalization of $34.84 million, a price-to-earnings ratio of -0.58 and a beta of 2.06. The stock has a 50-day simple moving average of $0.73 and a 200 day simple moving average of $0.67.

Institutional Trading of Kartoon Studios

Hedge funds have recently made changes to their positions in the stock. Caption Management LLC boosted its holdings in shares of Kartoon Studios by 157.4% during the second quarter. Caption Management LLC now owns 200,000 shares of the company’s stock worth $149,000 after purchasing an additional 122,303 shares during the period. Jane Street Group LLC purchased a new position in Kartoon Studios during the second quarter valued at approximately $25,000. Vanguard Group Inc. grew its position in Kartoon Studios by 11.7% during the third quarter. Vanguard Group Inc. now owns 1,834,119 shares of the company’s stock valued at $1,354,000 after purchasing an additional 192,760 shares in the last quarter. Geode Capital Management LLC increased its stake in Kartoon Studios by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 472,839 shares of the company’s stock valued at $341,000 after buying an additional 47,456 shares during the period. Finally, L1 Global Manager Pty Ltd acquired a new position in Kartoon Studios in the 4th quarter valued at approximately $44,000. 8.57% of the stock is owned by hedge funds and other institutional investors.

Kartoon Studios Company Profile

Kartoon Studios, Inc (NASDAQ: TOON) is a diversified entertainment company focused on creating, producing and distributing animated and live-action content for children and families. The company develops original intellectual property and builds consumer brands across television, digital streaming platforms and theatrical releases. Its offerings span episodic series, feature films and short-form programming, all designed to engage young audiences with positive messaging and educational themes.

The company’s flagship streaming service, the Kartoon Channel, features a wide library of original series such as Rainbow Rangers and Stan Lee’s Superhero Kindergarten, as well as licensed third-party titles.