Stoneridge Investment Partners LLC Invests $306,000 in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Stoneridge Investment Partners 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 22,502 shares of the company’s stock, valued at approximately $306,000.

Several other large investors also recently added to or reduced their stakes in WBTN. SG Americas Securities LLC purchased a new stake in shares of WEBTOON Entertainment in the 4th quarter valued at about $892,000. JPMorgan Chase & Co. bought a new position in shares of WEBTOON Entertainment in the third quarter worth approximately $75,000. Geode Capital Management LLC raised its stake in WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after purchasing an additional 306,496 shares in the last quarter. Barclays PLC lifted 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 purchasing an additional 488,779 shares during the last quarter. Finally, State Street Corp purchased a new position in WEBTOON Entertainment in the 3rd quarter worth approximately $1,560,000.

Analysts Set New Price Targets

WBTN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley dropped their price target on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group reduced their price objective on WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

WEBTOON Entertainment Price Performance

WEBTOON Entertainment stock opened at $10.89 on Friday. The firm has a fifty day simple moving average of $13.10 and a two-hundred day simple moving average of $12.98. WEBTOON Entertainment Inc. has a twelve month low of $10.05 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its 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 company had revenue of $347.92 million for the quarter, compared to analysts’ expectations of $336.43 million. As a group, research analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

WEBTOON Entertainment 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.