WEBTOON Entertainment's (NASDAQ:WBTN - Get Free Report) lock-up period will expire on Tuesday, December 24th. WEBTOON Entertainment had issued 15,000,000 shares in its IPO on June 27th. The total size of the offering was $315,000,000 based on an initial share price of $21.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. HSBC assumed coverage on WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a "buy" rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, WEBTOON Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.83.
Read Our Latest Stock Report on WBTN
WEBTOON Entertainment Trading Up 0.5 %
Shares of WBTN stock traded up $0.07 during trading on Tuesday, reaching $12.90. 291,703 shares of the company's stock traded hands, compared to its average volume of 462,228. The stock has a 50-day moving average price of $11.66. WEBTOON Entertainment has a 1 year low of $10.05 and a 1 year high of $25.66.
Institutional Trading of WEBTOON Entertainment
A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $45,000. MetLife Investment Management LLC bought a new stake in WEBTOON Entertainment during the 3rd quarter worth approximately $107,000. Sandia Investment Management LP bought a new stake in WEBTOON Entertainment during the 2nd quarter worth approximately $114,000. Verition Fund Management LLC purchased a new stake in WEBTOON Entertainment in the 3rd quarter worth approximately $261,000. Finally, WINTON GROUP Ltd bought a new position in WEBTOON Entertainment in the 2nd quarter valued at $413,000.
WEBTOON Entertainment Company Profile
(
Get 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.
Further Reading
Before you consider WEBTOON Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WEBTOON Entertainment wasn't on the list.
While WEBTOON Entertainment currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
