XTX Topco Ltd Purchases New Holdings in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

XTX Topco Ltd purchased a new stake in WEBTOON Entertainment Inc. (NASDAQ:WBTN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,078 shares of the company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG bought a new position in WEBTOON Entertainment during the 4th quarter worth approximately $54,000. Wells Fargo & Company MN lifted its holdings in WEBTOON Entertainment by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock worth $111,000 after buying an additional 2,240 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in WEBTOON Entertainment by 8.3% during the 1st quarter. Bank of New York Mellon Corp now owns 35,310 shares of the company’s stock worth $271,000 after buying an additional 2,709 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in WEBTOON Entertainment by 69.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock worth $398,000 after buying an additional 11,954 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in WEBTOON Entertainment by 355.7% during the 4th quarter. Renaissance Technologies LLC now owns 51,950 shares of the company’s stock worth $705,000 after buying an additional 40,550 shares during the last quarter.

WEBTOON Entertainment Trading Down 3.1%

Shares of WEBTOON Entertainment stock opened at $16.44 on Friday. The business’s 50 day simple moving average is $9.54 and its 200-day simple moving average is $9.40. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -21.35 and a beta of 1.12. WEBTOON Entertainment Inc. has a twelve month low of $6.75 and a twelve month high of $18.45.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $348.27 million for the quarter, compared to analysts’ expectations of $341.63 million. WEBTOON Entertainment had a negative return on equity of 0.13% and a negative net margin of 7.24%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Sell-side analysts predict that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

Analyst Ratings Changes

WBTN has been the topic of a number of research analyst reports. Citigroup initiated coverage on WEBTOON Entertainment in a report on Thursday, May 15th. They set a “buy” rating and a $11.00 target price on the stock. The Goldman Sachs Group increased their target price on WEBTOON Entertainment from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their target price on WEBTOON Entertainment from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Evercore ISI increased their target price on WEBTOON Entertainment from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.43.

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.