Kartoon Studios (NASDAQ:TOON) Trading Down 4% – Here’s Why

Kartoon Studios Inc. (NASDAQ:TOON) traded down 4% during mid-day trading on Thursday . The stock traded as low as $0.59 and last traded at $0.61. 144,230 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 249,095 shares. The stock had previously closed at $0.63.

Kartoon Studios Stock Down 4.0 %

The stock has a market cap of $28.94 million, a PE ratio of -0.59 and a beta of 2.84. The stock’s fifty day moving average price is $0.57 and its 200 day moving average price is $0.67.

Institutional Trading of Kartoon Studios

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new position in shares of Kartoon Studios during the fourth quarter valued at $37,000. Fortress Financial Solutions LLC purchased a new position in Kartoon Studios in the 4th quarter worth about $44,000. Virtu Financial LLC purchased a new position in Kartoon Studios in the 4th quarter worth about $68,000. Jane Street Group LLC bought a new position in Kartoon Studios during the 4th quarter valued at about $82,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Kartoon Studios by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 367,297 shares of the company’s stock valued at $318,000 after acquiring an additional 32,428 shares during the last quarter. Institutional investors own 8.57% of the company’s stock.

About Kartoon Studios

Kartoon Studios Inc, a content and brand management company, creates, produces, licenses, and broadcasts educational and multimedia animated content for children worldwide. The company offers Shaq’s Garage, a children’s animated series about the secret adventures; Cocomelon that provides 3D animation videos of traditional nursery rhymes and children’s songs; Eggventurers, a preschool animated series; Barbie Productions that provides animated Barbie series; Octonauts, a children’s television series based on the children’s books; Roblox Rumble, an elimination-style competitive reality series; and Spin Master Productions.