WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

A number of equities analysts have weighed in on WBTN shares. HSBC started coverage on shares of WEBTOON Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They issued a “neutral” rating and a $23.00 price target for the company. Morgan Stanley dropped 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. Evercore ISI cut their target price on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, The Goldman Sachs Group decreased their price target on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

WEBTOON Entertainment Stock Down 2.4 %

WBTN opened at $10.74 on Monday. WEBTOON Entertainment has a twelve month low of $10.05 and a twelve month high of $25.66. The company’s fifty day moving average price is $11.09.

Insider Buying and Selling at WEBTOON Entertainment

In other WEBTOON Entertainment news, Director Namsun Kim purchased 7,195 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the transaction, the director now owns 7,195 shares in the company, valued at $100,010.50. This represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On WEBTOON Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in WEBTOON Entertainment during the 3rd quarter worth $45,000. Sandia Investment Management LP bought a new position in shares of WEBTOON Entertainment during the second quarter worth about $114,000. MetLife Investment Management LLC bought a new position in shares of WEBTOON Entertainment during the third quarter worth about $107,000. WINTON GROUP Ltd acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth about $413,000. Finally, Verition Fund Management LLC bought a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $261,000.

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.