Millennium Management LLC Has $3.05 Million Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Millennium Management LLC grew its holdings in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 1,312.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 224,887 shares of the company's stock after acquiring an additional 208,962 shares during the quarter. Millennium Management LLC owned about 0.18% of WEBTOON Entertainment worth $3,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WBTN. Barclays PLC raised its stake in shares of WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company's stock valued at $5,990,000 after purchasing an additional 488,779 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter worth about $75,000. Stoneridge Investment Partners LLC acquired a new stake in shares of WEBTOON Entertainment in the 4th quarter worth approximately $306,000. Rhumbline Advisers boosted its holdings in shares of WEBTOON Entertainment by 24.4% in the fourth quarter. Rhumbline Advisers now owns 21,423 shares of the company's stock valued at $291,000 after acquiring an additional 4,206 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of WEBTOON Entertainment in the fourth quarter valued at approximately $60,000.

WEBTOON Entertainment Stock Down 0.9%

Shares of WBTN stock traded down $0.08 during trading hours on Wednesday, reaching $8.90. 136,756 shares of the stock traded hands, compared to its average volume of 424,282. The firm has a market capitalization of $1.16 billion and a PE ratio of -6.18. WEBTOON Entertainment Inc. has a 1-year low of $6.75 and a 1-year high of $25.66. The business has a fifty day moving average price of $8.60 and a 200 day moving average price of $10.59.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WBTN. The Goldman Sachs Group dropped their target price on WEBTOON Entertainment from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Citigroup began 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. Finally, Evercore ISI cut 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.36.

Insider Buying and Selling

In other WEBTOON Entertainment news, insider Junkoo Kim purchased 11,372 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $8.73 per share, with a total value of $99,277.56. Following the completion of the transaction, the insider now 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.45% of the company's stock.

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.