Kartoon Studios (NASDAQ:TOON) Trading Down 2.3% – Here’s What Happened

Kartoon Studios Inc. (NASDAQ:TOON) shares were down 2.3% during mid-day trading on Friday . The stock traded as low as $0.7105 and last traded at $0.7112. Approximately 177,742 shares changed hands during trading, a decline of 10% from the average daily volume of 197,707 shares. The stock had previously closed at $0.7280.

Kartoon Studios Stock Performance

The company has a 50 day moving average of $0.73 and a 200 day moving average of $0.74. The stock has a market capitalization of $38.34 million, a price-to-earnings ratio of -0.70 and a beta of 2.18.

Hedge Funds Weigh In On Kartoon Studios

Hedge funds have recently modified their holdings of the business. Caption Management LLC lifted its position in Kartoon Studios by 157.4% during the 2nd quarter. Caption Management LLC now owns 200,000 shares of the company’s stock worth $149,000 after acquiring an additional 122,303 shares during the period. Jane Street Group LLC acquired a new position in Kartoon Studios during the second quarter worth $25,000. Vanguard Group Inc. raised its stake in shares of Kartoon Studios by 11.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,834,119 shares of the company’s stock worth $1,354,000 after buying an additional 192,760 shares during the last quarter. Finally, Anson Funds Management LP lifted its holdings in shares of Kartoon Studios by 117.9% in the third quarter. Anson Funds Management LP now owns 1,778,384 shares of the company’s stock valued at $1,312,000 after purchasing an additional 962,313 shares in the last quarter. 8.57% of the stock is currently owned by hedge funds and other institutional investors.

About Kartoon Studios

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.