Junkoo Kim Buys 11,372 Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim purchased 11,372 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the transaction, the insider now directly 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 document filed with the SEC, which is available through this link.

WEBTOON Entertainment Stock Up 0.8 %

Shares of WBTN opened at $8.73 on Friday. The business’s 50 day moving average is $10.93 and its two-hundred day moving average is $11.55. WEBTOON Entertainment Inc. has a 52-week low of $8.32 and a 52-week high of $25.66. The firm has a market cap of $1.12 billion and a price-to-earnings ratio of 18.98.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. On average, equities analysts expect that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

WBTN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of institutional investors have recently made changes to their positions in WBTN. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter valued at approximately $45,000. Deutsche Bank AG bought a new position in WEBTOON Entertainment during the 4th quarter worth $54,000. New York State Common Retirement Fund bought a new position in WEBTOON Entertainment during the 4th quarter worth $60,000. JPMorgan Chase & Co. bought a new position in WEBTOON Entertainment during the 3rd quarter worth $75,000. Finally, MetLife Investment Management LLC bought a new position in WEBTOON Entertainment during the 3rd quarter worth $107,000.

About WEBTOON Entertainment

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.