WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.17.

WBTN has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley decreased their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th.

Insider Buying and Selling

In other news, insider Junkoo Kim acquired 11,372 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $8.73 per share, with a total value of $99,277.56. Following the completion of the purchase, the insider now owns 498,812 shares in the company, valued at approximately $4,354,628.76. The trade was a 2.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of WEBTOON Entertainment by 1,312.2% in the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock worth $3,054,000 after buying an additional 208,962 shares in the last quarter. Deutsche Bank AG bought a new position in WEBTOON Entertainment in the 4th quarter worth about $54,000. D. E. Shaw & Co. Inc. raised its holdings in shares of WEBTOON Entertainment by 69.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock valued at $398,000 after acquiring an additional 11,954 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of WEBTOON Entertainment in the 4th quarter valued at about $5,033,000. Finally, Northern Trust Corp boosted its position in shares of WEBTOON Entertainment by 6.8% during the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock valued at $1,742,000 after acquiring an additional 8,190 shares during the last quarter.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ:WBTN opened at $8.38 on Thursday. The company has a market capitalization of $1.08 billion and a P/E ratio of 18.22. The company’s 50-day moving average is $8.93 and its 200 day moving average is $11.10. WEBTOON Entertainment has a fifty-two week low of $6.75 and a fifty-two week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last released its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analysts’ expectations of $351.00 million. As a group, research analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

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.