WEBTOON Entertainment (NASDAQ:WBTN) Sets New 12-Month Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.10 and last traded at $8.16, with a volume of 95816 shares changing hands. The stock had previously closed at $8.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WBTN shares. JPMorgan Chase & Co. lowered their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Morgan Stanley lowered their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group cut 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

WEBTOON Entertainment Stock Down 5.3 %

The company’s 50 day simple moving average is $10.50 and its 200-day simple moving average is $11.44. The firm has a market cap of $1.04 billion and a P/E ratio of 17.48.

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

Insider Activity

In related news, insider Junkoo Kim acquired 11,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $8.73 per share, for a total transaction of $99,277.56. Following the acquisition, the insider now directly owns 498,812 shares of the company’s stock, valued at $4,354,628.76. This represents a 2.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its holdings in shares of WEBTOON Entertainment by 37.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock valued at $111,000 after purchasing an additional 2,240 shares during the period. Geode Capital Management LLC lifted its holdings in shares of WEBTOON Entertainment by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock worth $5,635,000 after buying an additional 2,755 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth $45,000. Deutsche Bank AG bought a new position in shares of WEBTOON Entertainment during the 4th quarter worth $54,000. Finally, Rhumbline Advisers raised its holdings in shares of WEBTOON Entertainment by 24.4% in the fourth quarter. Rhumbline Advisers now owns 21,423 shares of the company’s stock valued at $291,000 after acquiring an additional 4,206 shares in the last quarter.

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.