FIL Ltd lessened its position in WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 26.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,431,206 shares of the company's stock after selling 517,320 shares during the period. FIL Ltd owned about 1.12% of WEBTOON Entertainment worth $19,436,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in WBTN. BNP Paribas Financial Markets bought a new stake in WEBTOON Entertainment during the 3rd quarter worth about $45,000. New York State Common Retirement Fund acquired a new stake in WEBTOON Entertainment in the fourth quarter valued at about $60,000. JPMorgan Chase & Co. acquired a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at $75,000. Wells Fargo & Company MN increased its position in WEBTOON Entertainment by 37.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock valued at $111,000 after acquiring an additional 2,240 shares during the period. Finally, American Century Companies Inc. bought a new position in WEBTOON Entertainment during the 4th quarter worth approximately $203,000.
WEBTOON Entertainment Stock Performance
WBTN traded up $0.20 during trading on Tuesday, hitting $8.29. 215,853 shares of the stock were exchanged, compared to its average volume of 439,294. WEBTOON Entertainment Inc. has a 1 year low of $6.75 and a 1 year high of $25.66. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of 18.02. The firm has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $11.14.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its quarterly 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 business had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. As a group, equities analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.
Insider Activity at WEBTOON Entertainment
In other WEBTOON Entertainment news, insider Junkoo Kim bought 11,372 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $8.73 per share, with a total value of $99,277.56. Following the purchase, the insider now directly owns 498,812 shares of the company's stock, valued at $4,354,628.76. This trade represents a 2.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on WBTN shares. JPMorgan Chase & Co. dropped their target price on WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on 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, Morgan Stanley reduced their target price on WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, WEBTOON Entertainment presently has an average rating of "Moderate Buy" and an average target price of $17.17.
Get Our Latest Research Report on WEBTOON Entertainment
WEBTOON Entertainment 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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