Yongsoo Kim Buys 7,800 Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Yongsoo Kim purchased 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $100,776.00. Following the transaction, the insider now owns 110,910 shares in the company, valued at approximately $1,432,957.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

WEBTOON Entertainment Price Performance

Shares of WEBTOON Entertainment stock traded down $0.24 during mid-day trading on Thursday, hitting $12.37. 418,040 shares of the stock were exchanged, compared to its average volume of 648,246. WEBTOON Entertainment Inc. has a 12 month low of $11.15 and a 12 month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.72) by $0.92. The firm had revenue of $320.97 million for the quarter, compared to the consensus estimate of $340.72 million. During the same period in the prior year, the business earned ($0.01) EPS. WEBTOON Entertainment’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that WEBTOON Entertainment Inc. will post -1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $32,145,000. WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $413,000. Hood River Capital Management LLC purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $10,352,000. Davidson Kempner Capital Management LP purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $1,610,000. Finally, Marshall Wace LLP purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $1,516,000.

Analysts Set New Price Targets

WBTN has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued a “neutral” rating and a $23.00 price target on the stock. Morgan Stanley initiated coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued an “equal weight” rating and a $23.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Evercore ISI dropped their target price on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEBTOON Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

WEBTOON Entertainment Company Profile

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.