Kartoon Studios (NASDAQ:TOON) Trading Down 2.3% – Should You Sell?

Kartoon Studios Inc. (NASDAQ:TOON)’s stock price was down 2.3% during mid-day trading on Friday . The company traded as low as $0.7105 and last traded at $0.7112. Approximately 177,742 shares were traded 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 market cap of $38.34 million, a P/E ratio of -0.70 and a beta of 2.18. The firm’s fifty day moving average is $0.73 and its two-hundred day moving average is $0.74.

Hedge Funds Weigh In On Kartoon Studios

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

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.