Kartoon Studios (NASDAQ:TOON) Shares Down 0.2% – Here’s Why

Shares of Kartoon Studios Inc. (NASDAQ:TOON) were down 0.2% during trading on Thursday . The company traded as low as $0.81 and last traded at $0.83. Approximately 69,064 shares changed hands during trading, a decline of 68% from the average daily volume of 217,920 shares. The stock had previously closed at $0.84.

Kartoon Studios Trading Down 0.2%

The firm has a market capitalization of $39.81 million, a PE ratio of -0.82 and a beta of 3.35. The firm has a 50-day moving average of $0.66 and a two-hundred day moving average of $0.62.

Institutional Investors Weigh In On Kartoon Studios

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Kartoon Studios in the 1st quarter valued at about $25,000. Squarepoint Ops LLC purchased a new position in Kartoon Studios in the fourth quarter valued at approximately $37,000. Fortress Financial Solutions LLC acquired a new position in Kartoon Studios during the fourth quarter valued at approximately $44,000. Caption Management LLC acquired a new position in Kartoon Studios during the first quarter valued at approximately $48,000. Finally, Virtu Financial LLC purchased a new stake in Kartoon Studios during the fourth quarter worth approximately $68,000. 8.57% of the stock is currently owned by institutional investors and hedge funds.

Kartoon Studios Company Profile

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.