WEBTOON Entertainment (NASDAQ:WBTN) Hits New 1-Year Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN)’s stock price reached a new 52-week low on Friday . The company traded as low as $8.10 and last traded at $8.16, with a volume of 95816 shares. The stock had previously closed at $8.49.

Analyst Ratings Changes

A number of research analysts have commented on WBTN shares. Morgan Stanley cut their target price on shares of 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. The Goldman Sachs Group reduced their price objective on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, WEBTOON Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

WEBTOON Entertainment Stock Performance

The stock has a market cap of $1.05 billion and a P/E ratio of 17.83. The firm’s 50 day moving average is $10.60 and its 200 day moving average is $11.45.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to analysts’ expectations of $351.00 million. As a group, analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Insider Activity at WEBTOON Entertainment

In related news, insider Junkoo Kim acquired 11,372 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $8.73 per share, for a total transaction of $99,277.56. Following the transaction, the insider now owns 498,812 shares in the company, valued at approximately $4,354,628.76. This trade represents a 2.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On WEBTOON Entertainment

Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in WEBTOON Entertainment by 30.9% during the fourth quarter. FMR LLC now owns 8,034,524 shares of the company’s stock worth $109,109,000 after buying an additional 1,897,659 shares in the last quarter. Norges Bank acquired a new position in shares of WEBTOON Entertainment in the fourth quarter worth about $11,862,000. Barclays PLC boosted its stake in shares of WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after acquiring an additional 488,779 shares in the last quarter. Geode Capital Management LLC grew its position in shares of WEBTOON Entertainment by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock valued at $5,635,000 after acquiring an additional 2,755 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of WEBTOON Entertainment in the 4th quarter valued at about $5,033,000.

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.