Deutsche Bank Aktiengesellschaft Cuts WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $16.00

WEBTOON Entertainment (NASDAQ:WBTN) had its target price reduced by Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

WBTN has been the topic of a number of other research reports. Morgan Stanley dropped their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Evercore ISI cut their price target on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. HSBC began coverage on WEBTOON Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $23.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. assumed coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They issued a “neutral” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

WEBTOON Entertainment Stock Up 2.4 %

Shares of NASDAQ WBTN opened at $11.73 on Tuesday. The company’s 50 day moving average is $11.29. WEBTOON Entertainment has a 52 week low of $10.22 and a 52 week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The firm had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. WEBTOON Entertainment’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, equities research analysts anticipate that WEBTOON Entertainment will post -1.3 EPS for the current year.

Insider Activity

In other WEBTOON Entertainment news, insider Junkoo Kim bought 22,596 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $11.88 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Namsun Kim bought 7,195 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the acquisition, the director now directly owns 7,195 shares of the company’s stock, valued at approximately $100,010.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Junkoo Kim acquired 22,596 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $11.88 per share, with a total value of $268,440.48. Following the completion of the transaction, the insider now owns 905,070 shares of the company’s stock, valued at $10,752,231.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 56,526 shares of company stock valued at $710,459 over the last quarter.

Institutional Investors Weigh In On WEBTOON Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in WBTN. Federated Hermes Inc. bought a new position in WEBTOON Entertainment during the second quarter worth $32,145,000. Millennium Management LLC bought a new position in shares of WEBTOON Entertainment in the second quarter valued at approximately $18,346,000. Hood River Capital Management LLC purchased a new stake in WEBTOON Entertainment in the 2nd quarter valued at $10,352,000. Ghisallo Capital Management LLC purchased a new position in WEBTOON Entertainment during the 2nd quarter worth $2,055,000. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $1,610,000.

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.