Kartoon Studios (NASDAQ:TOON) Trading Up 3.7% – Here’s Why

Shares of Kartoon Studios Inc. (NASDAQ:TOON) traded up 3.7% on Friday . The stock traded as high as $1.17 and last traded at $1.12. 2,119,658 shares traded hands during mid-day trading, an increase of 235% from the average session volume of 633,109 shares. The stock had previously closed at $1.08.

Kartoon Studios Stock Up 3.7%

The company has a fifty day moving average of $0.68 and a two-hundred day moving average of $0.68. The stock has a market capitalization of $66.24 million, a price-to-earnings ratio of -1.10 and a beta of 2.08.

Institutional Trading of Kartoon Studios

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Anson Funds Management LP lifted its stake in shares of Kartoon Studios by 192.3% in the fourth quarter. Anson Funds Management LP now owns 5,198,384 shares of the company’s stock valued at $3,743,000 after purchasing an additional 3,420,000 shares during the period. Vanguard Group Inc. lifted 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 purchasing an additional 192,760 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Kartoon Studios in the first quarter valued at about $655,000. Geode Capital Management LLC lifted its stake in shares of Kartoon Studios by 11.2% in the fourth 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 period. Finally, Caption Management LLC lifted its stake in shares of Kartoon Studios by 157.4% in 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. Institutional investors and hedge funds 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.