Quantbot Technologies LP Acquires New Shares in WEBTOON Entertainment Inc. $WBTN

Key Points

• Quantbot Technologies LP has taken a new position in WEBTOON Entertainment, acquiring 20,598 shares worth approximately $158,000 in the first quarter of 2023.
• Several institutional investors, including Ameriprise Financial Inc. and Millennium Management LLC, have significantly increased their holdings in WEBTOON Entertainment in recent quarters.
• Wall Street analysts have raised their price targets for WEBTOON Entertainment, with the consensus rating now considered a Moderate Buy and a target price of $15.43.

Quantbot Technologies LP acquired a new position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,598 shares of the company's stock, valued at approximately $158,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. acquired a new stake in WEBTOON Entertainment during the fourth quarter worth about $5,033,000. Millennium Management LLC increased its stake 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 valued at $3,054,000 after purchasing an additional 208,962 shares during the period. Northern Trust Corp increased its stake in shares of WEBTOON Entertainment by 6.8% in the fourth quarter. Northern Trust Corp now owns 128,310 shares of the company's stock valued at $1,742,000 after purchasing an additional 8,190 shares during the period. Renaissance Technologies LLC increased its stake in shares of WEBTOON Entertainment by 355.7% in the fourth quarter. Renaissance Technologies LLC now owns 51,950 shares of the company's stock valued at $705,000 after purchasing an additional 40,550 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of WEBTOON Entertainment by 193.3% in the first quarter. American Century Companies Inc. now owns 43,803 shares of the company's stock valued at $336,000 after purchasing an additional 28,867 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on WBTN. Morgan Stanley raised their price target on shares of WEBTOON Entertainment from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 13th. Evercore ISI raised their price objective on shares of WEBTOON Entertainment from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Zacks Research upgraded shares of WEBTOON Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. The Goldman Sachs Group lifted their price target on shares of WEBTOON Entertainment from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of WEBTOON Entertainment from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.43.

WEBTOON Entertainment Price Performance

NASDAQ WBTN traded down $0.28 on Tuesday, hitting $14.20. 266,578 shares of the stock were exchanged, compared to its average volume of 437,869. WEBTOON Entertainment Inc. has a 52-week low of $6.75 and a 52-week high of $18.45. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -18.44 and a beta of 1.30. The company's 50-day moving average price is $11.03 and its two-hundred day moving average price is $9.59.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $348.27 million for the quarter, compared to analysts' expectations of $341.63 million. WEBTOON Entertainment had a negative net margin of 7.24% and a negative return on equity of 0.13%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. WEBTOON Entertainment has set its Q3 2025 guidance at EPS. Equities analysts predict that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

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.