Ameriprise Financial Inc. bought a new position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 370,639 shares of the company's stock, valued at approximately $5,033,000. Ameriprise Financial Inc. owned 0.29% of WEBTOON Entertainment as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in WBTN. New York State Common Retirement Fund purchased a new stake in WEBTOON Entertainment during the 4th quarter worth approximately $60,000. JPMorgan Chase & Co. purchased a new stake in WEBTOON Entertainment during the 3rd quarter worth approximately $75,000. Wells Fargo & Company MN increased its stake 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 period. American Century Companies Inc. purchased a new stake in WEBTOON Entertainment during the 4th quarter worth approximately $203,000. Finally, Rhumbline Advisers increased its stake in WEBTOON Entertainment by 24.4% during the 4th quarter. Rhumbline Advisers now owns 21,423 shares of the company's stock worth $291,000 after buying an additional 4,206 shares during the period.
Analysts Set New Price Targets
Several research firms have commented on WBTN. JPMorgan Chase & Co. lowered their price target on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on shares of WEBTOON Entertainment from $15.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Citigroup began coverage on shares of WEBTOON Entertainment in a report on Thursday, May 15th. They set a "buy" rating and a $11.00 price target for the company. Evercore ISI lowered their price target on shares of WEBTOON Entertainment from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Finally, Morgan Stanley lowered their price target on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.36.
Get Our Latest Analysis on WBTN
WEBTOON Entertainment Price Performance
Shares of WEBTOON Entertainment stock traded up $0.03 during trading hours on Thursday, hitting $9.10. The company had a trading volume of 200,776 shares, compared to its average volume of 427,350. The company's 50-day moving average is $8.59 and its two-hundred day moving average is $10.63. WEBTOON Entertainment Inc. has a twelve month low of $6.75 and a twelve month high of $25.66. The company has a market cap of $1.18 billion and a P/E ratio of -6.32.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $351.00 million. Sell-side analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.
Insider Activity at WEBTOON Entertainment
In other WEBTOON Entertainment news, insider Junkoo Kim purchased 11,372 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $8.73 per share, for a total transaction of $99,277.56. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.45% of the stock is owned by insiders.
WEBTOON Entertainment Company Profile
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Free Report)
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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