Morgan Stanley Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $16.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price target decreased by Morgan Stanley from $17.50 to $16.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft dropped their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Two research 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 a consensus price target of $26.67.

WEBTOON Entertainment Trading Down 3.1 %

Shares of WBTN opened at $12.65 on Monday. The company’s fifty day simple moving average is $12.53. WEBTOON Entertainment has a 12 month low of $10.05 and a 12 month high of $25.66.

Institutional Trading of WEBTOON Entertainment

A number of hedge funds have recently bought and sold shares of WBTN. FMR LLC grew its stake in shares of WEBTOON Entertainment by 45.0% during the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after purchasing an additional 1,905,231 shares during the period. Millennium Management LLC bought a new stake in WEBTOON Entertainment during the second quarter valued at approximately $18,346,000. Barclays PLC grew its position in WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares during the period. Hood River Capital Management LLC purchased a new stake in WEBTOON Entertainment during the second quarter valued at approximately $10,352,000. Finally, Geode Capital Management LLC raised its position in WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after acquiring an additional 306,496 shares during the period.

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.