Kartoon Studios (NASDAQ:TOON) Trading Down 4% – Should You Sell?

Kartoon Studios Inc. (NASDAQ:TOON)’s share price traded down 4% during mid-day trading on Thursday . The company traded as low as $0.59 and last traded at $0.61. 144,230 shares changed hands during trading, a decline of 42% from the average session volume of 249,095 shares. The stock had previously closed at $0.63.

Kartoon Studios Stock Performance

The company’s 50-day moving average price is $0.57 and its 200 day moving average price is $0.67. The stock has a market cap of $28.94 million, a PE ratio of -0.59 and a beta of 2.84.

Institutional Trading of Kartoon Studios

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of 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. Jane Street Group LLC bought a new position in Kartoon Studios in the 4th quarter worth $82,000. Virtu Financial LLC purchased a new position in Kartoon Studios during the fourth quarter valued at $68,000. Fortress Financial Solutions LLC purchased a new position in Kartoon Studios during the fourth quarter valued at $44,000. Finally, Squarepoint Ops LLC bought a new stake in Kartoon Studios during the fourth quarter valued at about $37,000. 8.57% of the stock is owned by hedge funds and other institutional investors.

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.