WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its price target trimmed by Morgan Stanley from $17.50 to $16.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.
Separately, Deutsche Bank Aktiengesellschaft reduced their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.67.
Get Our Latest Stock Analysis on WEBTOON Entertainment
WEBTOON Entertainment Stock Down 3.1 %
Shares of WBTN traded down $0.40 on Monday, hitting $12.65. 197,843 shares of the stock traded hands, compared to its average volume of 254,178. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66. The firm has a 50 day simple moving average of $12.50.
Institutional Investors Weigh In On WEBTOON Entertainment
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBTN. BNP Paribas Financial Markets purchased a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $45,000. Sandia Investment Management LP acquired a new stake in shares of WEBTOON Entertainment in the second quarter worth $114,000. JPMorgan Chase & Co. purchased a new position in shares of WEBTOON Entertainment during the 3rd quarter valued at about $75,000. MetLife Investment Management LLC acquired a new stake in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $107,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth about $413,000.
About WEBTOON Entertainment
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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.
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