Charles Schwab Investment Management Inc. Takes Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Charles Schwab Investment Management Inc. purchased a new stake in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,442 shares of the company’s stock, valued at approximately $1,344,000.

Several other hedge funds have also added to or reduced their stakes in WBTN. Sandia Investment Management LP bought a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $114,000. WINTON GROUP Ltd acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter worth about $413,000. Point72 Asset Management L.P. bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at about $816,000. Squarepoint Ops LLC acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $1,256,000. Finally, Marshall Wace LLP bought a new position in WEBTOON Entertainment during the 2nd quarter worth approximately $1,516,000.

Analysts Set New Price Targets

WBTN has been the subject of several recent analyst reports. HSBC initiated coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $23.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, WEBTOON Entertainment has an average rating of “Moderate Buy” and a consensus price target of $26.83.

WEBTOON Entertainment Stock Up 0.5 %

WEBTOON Entertainment stock opened at $12.90 on Wednesday. WEBTOON Entertainment Inc. has a twelve month low of $10.05 and a twelve month high of $25.66. The firm has a 50 day moving average of $11.70.

WEBTOON Entertainment Company 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.