Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

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

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

WEBTOON Entertainment Stock Down 7.7 %

WBTN stock opened at $10.83 on Tuesday. WEBTOON Entertainment has a 52-week low of $10.22 and a 52-week high of $25.66. The stock’s fifty day simple moving average is $11.24.

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

Insider Activity

In related news, insider Yongsoo Kim purchased 7,800 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the acquisition, the insider now directly owns 110,910 shares in the company, valued at $1,432,957.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Namsun Kim acquired 7,195 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $13.90 per share, with a total value of $100,010.50. Following the purchase, the director now owns 7,195 shares of the company’s stock, valued at $100,010.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yongsoo Kim bought 7,800 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $12.92 per share, with a total value of $100,776.00. Following the purchase, the insider now directly owns 110,910 shares in the company, valued at approximately $1,432,957.20. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 56,526 shares of company stock valued at $710,459.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in WEBTOON Entertainment in the second quarter valued at about $32,145,000. Ghisallo Capital Management LLC purchased a new position in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $2,055,000. Hood River Capital Management LLC acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $10,352,000. WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at approximately $413,000. Finally, Sandia Investment Management LP acquired a new position in WEBTOON Entertainment during the second quarter worth $114,000.

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.