Junkoo Kim Buys 11,372 Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim purchased 11,372 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of $8.73 per share, with a total value of $99,277.56. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link.

WEBTOON Entertainment Stock Up 0.8 %

Shares of NASDAQ WBTN traded up $0.07 during midday trading on Friday, reaching $8.73. 747,159 shares of the company were exchanged, compared to its average volume of 440,641. The stock’s 50-day moving average price is $11.02 and its 200-day moving average price is $11.59. The stock has a market cap of $1.12 billion and a P/E ratio of 18.98. WEBTOON Entertainment Inc. has a one year low of $8.32 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share 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 the consensus estimate of $351.00 million. On average, equities research analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment during the third quarter valued at about $45,000. Deutsche Bank AG acquired a new position in shares of WEBTOON Entertainment during the fourth quarter valued at about $54,000. New York State Common Retirement Fund acquired a new position in shares of WEBTOON Entertainment during the fourth quarter valued at about $60,000. JPMorgan Chase & Co. acquired a new position in shares of WEBTOON Entertainment during the third quarter valued at about $75,000. Finally, Wells Fargo & Company MN raised its holdings in shares of WEBTOON Entertainment by 37.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock valued at $111,000 after purchasing an additional 2,240 shares during the period.

Analyst Ratings Changes

WBTN has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

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.