WEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report) shares fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.03. 32,452 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 486,947 shares. The stock had previously closed at $11.71.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Evercore ISI decreased their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Morgan Stanley dropped their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a “neutral” rating and a $23.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group decreased their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on 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 Stock Performance
Insider Activity
In other WEBTOON Entertainment news, Director Namsun Kim bought 7,195 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the acquisition, the director now directly owns 7,195 shares in the company, valued at $100,010.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Yongsoo Kim bought 7,800 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $12.92 per share, with a total value of $100,776.00. Following the transaction, the insider now owns 110,910 shares in the company, valued at approximately $1,432,957.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Namsun Kim acquired 7,195 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $13.90 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, insiders have bought 56,526 shares of company stock worth $710,459.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WBTN. Sandia Investment Management LP purchased a new position in WEBTOON Entertainment in the 2nd quarter worth approximately $114,000. WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment in the second quarter worth about $413,000. Point72 Asset Management L.P. bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at approximately $816,000. Squarepoint Ops LLC purchased a new stake in WEBTOON Entertainment during the second quarter valued at $1,256,000. Finally, Charles Schwab Investment Management Inc. bought a new position in WEBTOON Entertainment during the third quarter valued at $1,344,000.
About WEBTOON Entertainment
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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