WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stake Cut by FIL Ltd

FIL Ltd decreased its stake in WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,431,206 shares of the company's stock after selling 517,320 shares during the quarter. FIL Ltd owned approximately 1.12% of WEBTOON Entertainment worth $19,436,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of WEBTOON Entertainment by 30.9% in the fourth quarter. FMR LLC now owns 8,034,524 shares of the company's stock valued at $109,109,000 after acquiring an additional 1,897,659 shares in the last quarter. Norges Bank acquired a new stake in shares of WEBTOON Entertainment in the fourth quarter valued at about $11,862,000. Barclays PLC lifted its stake in shares of WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company's stock worth $5,990,000 after buying an additional 488,779 shares in the last quarter. Geode Capital Management LLC grew its stake in WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company's stock valued at $4,716,000 after acquiring an additional 306,496 shares in the last quarter. Finally, State Street Corp acquired a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $1,560,000.

WEBTOON Entertainment Trading Up 2.2 %

Shares of NASDAQ WBTN traded up $0.19 during trading on Thursday, reaching $8.57. The company had a trading volume of 78,221 shares, compared to its average volume of 436,535. WEBTOON Entertainment Inc. has a twelve month low of $6.75 and a twelve month high of $25.66. The stock has a 50-day moving average price of $8.93 and a two-hundred day moving average price of $11.10. The stock has a market capitalization of $1.10 billion and a PE ratio of 18.62.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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. On average, sell-side analysts predict that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim bought 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 acquisition, the insider now owns 498,812 shares in the company, valued at $4,354,628.76. This represents a 2.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

WBTN has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

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.