WEBTOON Entertainment Inc. (NASDAQ:WBTN) Insider Junkoo Kim Acquires 11,372 Shares

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim acquired 11,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of $8.73 per share, with a total value of $99,277.56. Following the acquisition, the insider now owns 498,812 shares in the company, valued at $4,354,628.76. The trade was a 2.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WEBTOON Entertainment Price Performance

Shares of NASDAQ:WBTN opened at $8.73 on Friday. The firm has a fifty day moving average price of $10.93 and a two-hundred day moving average price of $11.55. The company has a market cap of $1.12 billion and a price-to-earnings ratio of 18.98. WEBTOON Entertainment Inc. has a one year low of $8.32 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. Equities research analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WBTN. Morgan Stanley lowered their price target 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 dropped 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. Finally, JPMorgan Chase & Co. reduced their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Two equities 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

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.