Kartoon Studios (NASDAQ:TOON) Stock Price Up 3.7% – Should You Buy?

Kartoon Studios Inc. (NASDAQ:TOON)’s share price rose 3.7% during trading on Friday . The company traded as high as $1.17 and last traded at $1.12. Approximately 2,119,658 shares traded hands during trading, an increase of 235% from the average daily volume of 633,109 shares. The stock had previously closed at $1.08.

Kartoon Studios Stock Performance

The company has a market cap of $66.24 million, a price-to-earnings ratio of -1.10 and a beta of 2.08. The business has a fifty day moving average price of $0.68 and a 200 day moving average price of $0.68.

Hedge Funds Weigh In On Kartoon Studios

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in shares of Kartoon Studios by 17.9% during the 4th quarter. State Street Corp now owns 141,260 shares of the company’s stock worth $102,000 after buying an additional 21,400 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Kartoon Studios during the 2nd quarter worth $25,000. Geode Capital Management LLC raised its holdings 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 worth $341,000 after buying an additional 47,456 shares in the last quarter. L1 Global Manager Pty Ltd acquired a new position in shares of Kartoon Studios during the 4th quarter worth $44,000. Finally, Caption Management LLC raised its holdings in shares of Kartoon Studios by 157.4% during the 2nd quarter. Caption Management LLC now owns 200,000 shares of the company’s stock worth $149,000 after buying an additional 122,303 shares in the last quarter. 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.