Shares of Kartoon Studios Inc. (NASDAQ:TOON – Get Free Report) dropped 4% during 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 Price Performance
The stock has a market cap of $28.74 million, a P/E ratio of -0.59 and a beta of 2.84. The business’s fifty day moving average price is $0.58 and its 200 day moving average price is $0.66.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Kartoon Studios by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 367,297 shares of the company’s stock worth $318,000 after acquiring an additional 32,428 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Kartoon Studios in the fourth quarter valued at approximately $37,000. Fortress Financial Solutions LLC bought a new position in Kartoon Studios in the 4th quarter valued at approximately $44,000. Virtu Financial LLC acquired a new stake in Kartoon Studios during the 4th quarter worth approximately $68,000. Finally, Jane Street Group LLC bought a new stake in Kartoon Studios during the 4th quarter worth approximately $82,000. 8.57% of the stock is currently owned by institutional investors and hedge funds.
About Kartoon Studios
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.
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