WEBTOON Entertainment (NASDAQ:WBTN) Hits New 1-Year Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.10 and last traded at $8.16, with a volume of 95816 shares traded. The stock had previously closed at $8.49.

Analysts Set New Price Targets

A number of research firms have weighed in on WBTN. The Goldman Sachs Group reduced their price objective 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. Morgan Stanley dropped their price target on 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. Finally, JPMorgan Chase & Co. cut 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 report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.33.

WEBTOON Entertainment Stock Performance

The business’s fifty day moving average price is $10.60 and its two-hundred day moving average price is $11.45. The stock has a market capitalization of $1.05 billion and a P/E ratio of 17.83.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. As a group, analysts forecast that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

Insider Activity

In other WEBTOON Entertainment news, insider Junkoo Kim bought 11,372 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the transaction, the insider now directly owns 498,812 shares of the company’s stock, valued at approximately $4,354,628.76. This represents a 2.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. purchased a new stake in shares of WEBTOON Entertainment during the third quarter valued at $1,344,000. FMR LLC grew its stake in WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after acquiring an additional 1,905,231 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at approximately $45,000. MetLife Investment Management LLC purchased a new stake in shares of WEBTOON Entertainment in the third quarter valued at approximately $107,000. Finally, Verition Fund Management LLC bought a new position in WEBTOON Entertainment in the third quarter worth approximately $261,000.

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.