SG Americas Securities LLC Buys New Holdings in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

SG Americas Securities LLC bought a new stake in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 65,659 shares of the company's stock, valued at approximately $892,000. SG Americas Securities LLC owned about 0.05% of WEBTOON Entertainment at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WBTN. JPMorgan Chase & Co. bought a new stake in shares of WEBTOON Entertainment in the third quarter worth approximately $75,000. Geode Capital Management LLC boosted its holdings in WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company's stock worth $4,716,000 after purchasing an additional 306,496 shares during the last quarter. Barclays PLC grew its position in WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company's stock worth $5,990,000 after purchasing an additional 488,779 shares during the period. State Street Corp purchased a new stake in WEBTOON Entertainment during the 3rd quarter valued at $1,560,000. Finally, Potrero Capital Research LLC purchased a new stake in WEBTOON Entertainment during the 3rd quarter valued at $4,176,000.

WEBTOON Entertainment Stock Performance

NASDAQ:WBTN traded down $0.11 during mid-day trading on Friday, hitting $12.75. 170,301 shares of the company traded hands, compared to its average volume of 182,968. The stock's fifty day moving average price is $13.01 and its 200-day moving average price is $13.22. WEBTOON Entertainment Inc. has a one year low of $10.05 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.70. The company had revenue of $347.92 million for the quarter, compared to the consensus estimate of $336.43 million. Analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WBTN. The Goldman Sachs Group cut their price objective on WEBTOON Entertainment from $48.00 to $25.00 and set a "buy" rating for the company in a report on Monday, January 27th. Morgan Stanley cut their price target on WEBTOON Entertainment from $17.50 to $16.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

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.