WEBTOON Entertainment Inc. (NASDAQ:WBTN) Insider Junkoo Kim Acquires 11,372 Shares

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) insider Junkoo Kim bought 11,372 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $8.73 per share, with a total value of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares in the company, valued at approximately $4,354,628.76. The trade was a 2.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WEBTOON Entertainment Stock Down 1.8 %

WBTN stock traded down $0.16 during mid-day trading on Tuesday, hitting $8.80. 174,875 shares of the company were exchanged, compared to its average volume of 439,008. The business has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $11.52. The firm has a market capitalization of $1.13 billion and a P/E ratio of 19.13. WEBTOON Entertainment Inc. has a 12-month low of $8.32 and a 12-month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million for the quarter, compared to analysts' expectations of $351.00 million. Research analysts predict that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

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Hedge Funds Weigh In On WEBTOON Entertainment

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in WEBTOON Entertainment in the 3rd quarter valued at about $45,000. Deutsche Bank AG purchased a new position in shares of WEBTOON Entertainment in the fourth quarter valued at approximately $54,000. New York State Common Retirement Fund acquired a new position in shares of WEBTOON Entertainment in the fourth quarter valued at approximately $60,000. JPMorgan Chase & Co. purchased a new stake in WEBTOON Entertainment during the 3rd quarter worth approximately $75,000. Finally, Wells Fargo & Company MN lifted its holdings in WEBTOON Entertainment by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock worth $111,000 after buying an additional 2,240 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on WBTN. Morgan Stanley dropped their price objective on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, WEBTOON Entertainment currently has an average rating of "Moderate Buy" and an average target price of $17.33.

About WEBTOON Entertainment

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company's platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.