WEBTOON Entertainment (NASDAQ:WBTN) Sets New 12-Month Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.05 and last traded at $10.22, with a volume of 89018 shares traded. The stock had previously closed at $11.07.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WBTN shares. The Goldman Sachs Group cut their price objective on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley cut their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. HSBC began coverage on WEBTOON Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price target for the company. Finally, Evercore ISI dropped their price target on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.83.

WEBTOON Entertainment Stock Down 5.1 %

The stock’s 50-day moving average is $11.18.

Insider Activity

In other WEBTOON Entertainment news, Director Namsun Kim purchased 7,195 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the transaction, the director now owns 7,195 shares of the company’s stock, valued at approximately $100,010.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Namsun Kim acquired 7,195 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $13.90 per share, with a total value of $100,010.50. Following the completion of the purchase, the director now directly owns 7,195 shares in the company, valued at approximately $100,010.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Junkoo Kim acquired 18,935 shares of WEBTOON Entertainment stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of $12.74 per share, with a total value of $241,231.90. Following the completion of the purchase, the insider now owns 924,005 shares of the company’s stock, valued at approximately $11,771,823.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 48,726 shares of company stock worth $609,683 over the last 90 days.

Hedge Funds Weigh In On WEBTOON Entertainment

Institutional investors have recently bought and sold shares of the stock. Sandia Investment Management LP purchased a new position in WEBTOON Entertainment during the second quarter valued at $114,000. WINTON GROUP Ltd purchased a new position in WEBTOON Entertainment during the second quarter valued at $413,000. Point72 Asset Management L.P. purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $816,000. Squarepoint Ops LLC purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $1,256,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth about $1,344,000.

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.