WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.73, but opened at $12.92. WEBTOON Entertainment shares last traded at $12.23, with a volume of 491,428 shares trading hands.
Wall Street Analysts Forecast Growth
WBTN has been the topic of several research reports. Morgan Stanley cut their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, August 16th. Evercore ISI decreased their target price on WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. initiated coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They issued a "neutral" rating and a $23.00 price objective on the stock. HSBC initiated coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a "buy" rating and a $23.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $26.83.
Check Out Our Latest Research Report on WEBTOON Entertainment
WEBTOON Entertainment Price Performance
The business has a 50-day moving average price of $11.29.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($0.72) by $0.92. The company had revenue of $320.97 million during the quarter, compared to the consensus estimate of $340.72 million. During the same period last year, the firm posted ($0.01) EPS. The company's revenue was up .1% on a year-over-year basis. Analysts forecast that WEBTOON Entertainment Inc. will post -1.3 EPS for the current fiscal year.
Insider Buying and Selling at WEBTOON Entertainment
In other news, Director Namsun Kim bought 7,195 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $13.90 per share, with a total value of $100,010.50. Following the acquisition, the director now owns 7,195 shares of the company's stock, valued at $100,010.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Namsun Kim bought 7,195 shares of the stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the transaction, the director now owns 7,195 shares of the company's stock, valued at $100,010.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Yongsoo Kim purchased 7,800 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the transaction, the insider now owns 110,910 shares of the company's stock, valued at $1,432,957.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 56,526 shares of company stock worth $710,459.
Hedge Funds Weigh In On WEBTOON Entertainment
Several institutional investors and hedge funds have recently added to or reduced their stakes in WBTN. Federated Hermes Inc. purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $32,145,000. Ghisallo Capital Management LLC purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $2,055,000. Hood River Capital Management LLC purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at approximately $10,352,000. WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at approximately $413,000. Finally, Sandia Investment Management LP purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at approximately $114,000.
About WEBTOON Entertainment
(
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.
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