MYDA Advisors LLC decreased its holdings in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 37.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company's stock after selling 42,000 shares during the period. MYDA Advisors LLC owned about 0.05% of WEBTOON Entertainment worth $951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp purchased a new position in WEBTOON Entertainment during the third quarter valued at $1,560,000. Barclays PLC lifted its stake in WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company's stock valued at $5,990,000 after buying an additional 488,779 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company's stock valued at $4,716,000 after acquiring an additional 306,496 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in WEBTOON Entertainment in the 3rd quarter valued at $75,000. Finally, SG Americas Securities LLC purchased a new position in WEBTOON Entertainment in the 4th quarter valued at $892,000.
Wall Street Analyst Weigh In
WBTN has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price target on WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.75.
Read Our Latest Research Report on WBTN
Insider Transactions at WEBTOON Entertainment
In other news, insider Junkoo Kim acquired 11,372 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of $8.73 per share, with a total value of $99,277.56. Following the transaction, the insider now owns 498,812 shares in the company, valued at approximately $4,354,628.76. This trade represents a 2.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
WEBTOON Entertainment Stock Performance
Shares of NASDAQ WBTN traded up $0.12 during midday trading on Friday, reaching $9.25. 78,881 shares of the stock were exchanged, compared to its average volume of 431,923. WEBTOON Entertainment Inc. has a twelve month low of $6.75 and a twelve month high of $25.66. The stock has a market capitalization of $1.19 billion and a P/E ratio of 20.12. The company has a 50 day simple moving average of $8.70 and a 200 day simple moving average of $11.00.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analyst estimates of $351.00 million. On average, research analysts expect that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.
WEBTOON Entertainment Company Profile
(
Free Report)
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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