WEBTOON Entertainment (NASDAQ:WBTN) Hits New 1-Year Low - Should You Sell?

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.10 and last traded at $8.16, with a volume of 95816 shares changing hands. The stock had previously closed at $8.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lowered their price objective 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. JPMorgan Chase & Co. lowered their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.33.

WEBTOON Entertainment Stock Up 3.4 %

The company has a market cap of $1.02 billion and a price-to-earnings ratio of 17.24. The business's fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $11.42.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million for the quarter, compared to analysts' expectations of $351.00 million. Sell-side analysts predict that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

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Insider Activity at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Junkoo Kim acquired 11,372 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought 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 of the company's stock, valued at approximately $4,354,628.76. This trade represents a 2.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its position in WEBTOON Entertainment by 1,312.2% in the 4th quarter. Millennium Management LLC now owns 224,887 shares of the company's stock valued at $3,054,000 after acquiring an additional 208,962 shares during the period. Deutsche Bank AG purchased a new position in shares of WEBTOON Entertainment in the 4th quarter valued at approximately $54,000. D. E. Shaw & Co. Inc. increased its holdings in shares of WEBTOON Entertainment by 69.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company's stock valued at $398,000 after purchasing an additional 11,954 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of WEBTOON Entertainment during the fourth quarter worth approximately $5,033,000. Finally, Northern Trust Corp lifted its holdings in shares of WEBTOON Entertainment by 6.8% during the fourth quarter. Northern Trust Corp now owns 128,310 shares of the company's stock worth $1,742,000 after purchasing an additional 8,190 shares during the period.

WEBTOON Entertainment Company Profile

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.