Kartoon Studios (NASDAQ:TOON) Shares Down 4% – Here’s What Happened

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

Kartoon Studios Stock Performance

The stock’s 50 day moving average price is $0.58 and its 200 day moving average price is $0.66. The company has a market capitalization of $28.74 million, a P/E ratio of -0.59 and a beta of 2.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in Kartoon Studios during the fourth quarter worth $37,000. Fortress Financial Solutions LLC acquired a new position in Kartoon Studios during the 4th quarter worth approximately $44,000. Virtu Financial LLC bought a new position in Kartoon Studios in the fourth quarter worth approximately $68,000. Jane Street Group LLC acquired a new stake in Kartoon Studios in the fourth quarter valued at approximately $82,000. Finally, Geode Capital Management LLC increased its holdings in shares of Kartoon Studios by 9.7% during the third 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 in the last quarter. 8.57% of the stock is owned by institutional investors and hedge funds.

Kartoon Studios Company Profile

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.