Kartoon Studios (NASDAQ:TOON) Stock Price Down 9.8% – Here’s What Happened

Shares of Kartoon Studios Inc. (NASDAQ:TOON) were down 9.8% during trading on Monday . The stock traded as low as $0.6062 and last traded at $0.6107. Approximately 550,238 shares changed hands during trading, an increase of 62% from the average daily volume of 338,661 shares. The stock had previously closed at $0.6770.

Kartoon Studios Price Performance

The stock has a 50-day moving average price of $0.71 and a two-hundred day moving average price of $0.74. The stock has a market cap of $32.92 million, a PE ratio of -0.60 and a beta of 2.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TOON. Anson Funds Management LP increased its stake in Kartoon Studios by 192.3% during the fourth quarter. Anson Funds Management LP now owns 5,198,384 shares of the company’s stock worth $3,743,000 after acquiring an additional 3,420,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Kartoon Studios by 17.9% in the 4th quarter. State Street Corp now owns 141,260 shares of the company’s stock worth $102,000 after purchasing an additional 21,400 shares during the period. L1 Global Manager Pty Ltd bought a new position in shares of Kartoon Studios during the 4th quarter valued at approximately $44,000. Geode Capital Management LLC increased its position in shares of Kartoon Studios by 11.2% during the 4th quarter. Geode Capital Management LLC now owns 472,839 shares of the company’s stock valued at $341,000 after purchasing an additional 47,456 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Kartoon Studios by 11.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,834,119 shares of the company’s stock valued at $1,354,000 after buying 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.