SG Americas Securities LLC Takes $892,000 Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

SG Americas Securities LLC acquired a new position in WEBTOON Entertainment Inc. (NASDAQ:WBTN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 65,659 shares of the company’s stock, valued at approximately $892,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. purchased a new position in shares of WEBTOON Entertainment during the third quarter worth about $1,344,000. State Street Corp bought a new position in shares of WEBTOON Entertainment in the 3rd quarter worth $1,560,000. Barclays PLC raised its position 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 valued at $5,990,000 after buying an additional 488,779 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of WEBTOON Entertainment by 290.1% during the 3rd 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 last quarter. Finally, FMR LLC boosted its holdings in shares of WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Finally, Morgan Stanley decreased their price target on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and an average price target of $21.67.

WEBTOON Entertainment Price Performance

Shares of WEBTOON Entertainment stock opened at $13.07 on Wednesday. WEBTOON Entertainment Inc. has a 12-month low of $10.05 and a 12-month high of $25.66. The company’s fifty day simple moving average is $12.91 and its two-hundred day simple moving average is $13.38.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.70. The firm had revenue of $347.92 million for the quarter, compared to the consensus estimate of $336.43 million. On average, equities analysts expect that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.

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.