Renaissance Technologies LLC Has $705,000 Stock Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Renaissance Technologies LLC increased its position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 355.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,950 shares of the company's stock after purchasing an additional 40,550 shares during the quarter. Renaissance Technologies LLC's holdings in WEBTOON Entertainment were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WBTN. New York State Common Retirement Fund acquired a new stake in shares of WEBTOON Entertainment in the fourth quarter valued at $60,000. JPMorgan Chase & Co. bought a new position in WEBTOON Entertainment in the 3rd quarter valued at $75,000. Wells Fargo & Company MN increased its stake in shares of WEBTOON Entertainment by 37.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock valued at $111,000 after buying an additional 2,240 shares during the period. American Century Companies Inc. bought a new stake in shares of WEBTOON Entertainment during the fourth quarter worth $203,000. Finally, Rhumbline Advisers lifted its stake in shares of WEBTOON Entertainment by 24.4% during 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 during the period.

Insiders Place Their Bets

In related news, insider Junkoo Kim acquired 11,372 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the acquisition, the insider now directly owns 498,812 shares in the company, valued at approximately $4,354,628.76. The trade was a 2.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

WBTN has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut 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. Finally, The Goldman Sachs Group cut their price target on WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.75.

WEBTOON Entertainment Trading Up 0.5 %

Shares of WBTN stock traded up $0.05 on Thursday, hitting $9.31. The stock had a trading volume of 27,053 shares, compared to its average volume of 425,757. WEBTOON Entertainment Inc. has a twelve month low of $6.75 and a twelve month high of $25.66. The company has a fifty day moving average price of $8.57 and a two-hundred day moving average price of $10.88. The firm has a market cap of $1.21 billion and a P/E ratio of 20.24.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million during the quarter, compared to analysts' expectations of $351.00 million. On average, analysts expect that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

WEBTOON Entertainment 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.