WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $26.83 Average Price Target from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $26.83.

Separately, Deutsche Bank Aktiengesellschaft dropped their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

WEBTOON Entertainment Stock Down 1.6 %

WBTN stock opened at $13.25 on Tuesday. The stock’s 50 day moving average is $12.45. WEBTOON Entertainment has a 52 week low of $10.05 and a 52 week high of $25.66.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew 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 during the last quarter. Federated Hermes Inc. bought a new stake in WEBTOON Entertainment during the second quarter worth about $32,145,000. Millennium Management LLC acquired a new stake in shares of WEBTOON Entertainment during the second quarter worth approximately $18,346,000. Barclays PLC raised its stake in shares of WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after acquiring an additional 488,779 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter worth approximately $10,352,000.

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.