WINTON GROUP Ltd Takes Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

WINTON GROUP Ltd bought a new stake in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 18,087 shares of the company’s stock, valued at approximately $413,000.

Separately, Federated Hermes Inc. purchased a new stake in shares of WEBTOON Entertainment during the second quarter worth $32,145,000.

Insider Activity

In other news, insider Junkoo Kim acquired 22,596 shares of WEBTOON Entertainment stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $11.88 per share, with a total value of $268,440.48. Following the purchase, the insider now directly owns 905,070 shares of the company’s stock, valued at approximately $10,752,231.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Namsun Kim acquired 7,195 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the purchase, the director now directly owns 7,195 shares in the company, valued at $100,010.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Junkoo Kim purchased 22,596 shares of WEBTOON Entertainment stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $11.88 per share, with a total value of $268,440.48. Following the transaction, the insider now directly owns 905,070 shares in the company, valued at approximately $10,752,231.60. The disclosure for this purchase can be found here. Insiders have bought 56,526 shares of company stock valued at $710,459 in the last three months.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of WEBTOON Entertainment in a report on Monday, July 22nd. They set a “neutral” rating and a $23.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price 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, August 12th. The Goldman Sachs Group reduced 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, August 12th. Morgan Stanley reduced their price target on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Finally, Evercore ISI cut 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 note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

WEBTOON Entertainment Price Performance

WEBTOON Entertainment stock opened at $10.51 on Thursday. WEBTOON Entertainment Inc. has a one year low of $10.22 and a one year high of $25.66. The firm has a fifty day simple moving average of $15.89.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The company had revenue of $320.97 million for the quarter, compared to analysts’ expectations of $340.72 million. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, analysts predict that WEBTOON Entertainment Inc. will post -1.3 earnings per share for the current year.

WEBTOON Entertainment 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.