Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $7.21 and last traded at $7.43, with a volume of 12718 shares trading hands. The stock had previously closed at $7.65.
Analysts Set New Price Targets
A number of equities research analysts recently commented on WBTN shares. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. lowered their price target on WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday. 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 research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, WEBTOON Entertainment has an average rating of "Moderate Buy" and a consensus target price of $17.17.
View Our Latest Stock Report on WEBTOON Entertainment
WEBTOON Entertainment Stock Performance
The firm's 50-day moving average is $9.61 and its 200 day moving average is $11.26. The firm has a market capitalization of $984.52 million and a P/E ratio of 16.82.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its 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 business had revenue of $352.85 million during the quarter, compared to analysts' expectations of $351.00 million. As a group, research analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.
Insider Activity at WEBTOON Entertainment
In related news, insider Junkoo Kim purchased 11,372 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares in the company, valued at $4,354,628.76. This trade represents a 2.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge Funds Weigh In On WEBTOON Entertainment
Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. acquired a new stake in WEBTOON Entertainment in the third quarter valued at $1,344,000. BNP Paribas Financial Markets acquired a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $45,000. MetLife Investment Management LLC bought a new position in WEBTOON Entertainment during the third quarter worth about $107,000. Verition Fund Management LLC acquired a new position in WEBTOON Entertainment during the third quarter worth approximately $261,000. Finally, State Street Corp bought a new stake in WEBTOON Entertainment in the third quarter valued at approximately $1,560,000.
About WEBTOON Entertainment
(
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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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