Ghisallo Capital Management LLC purchased a new position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 90,000 shares of the company’s stock, valued at approximately $2,055,000. Ghisallo Capital Management LLC owned about 0.07% of WEBTOON Entertainment at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of WBTN. Sandia Investment Management LP bought a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $114,000. WINTON GROUP Ltd acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at about $413,000. Point72 Asset Management L.P. acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at about $816,000. Squarepoint Ops LLC bought a new stake in WEBTOON Entertainment during the second quarter worth about $1,256,000. Finally, Marshall Wace LLP bought a new stake in WEBTOON Entertainment during the second quarter worth about $1,516,000.
WEBTOON Entertainment Stock Performance
Shares of WBTN opened at $11.53 on Wednesday. The business’s 50-day moving average is $14.17. WEBTOON Entertainment Inc. has a 52-week low of $10.22 and a 52-week high of $25.66.
Insider Activity
In other news, Director Namsun Kim bought 7,195 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the purchase, the director now directly owns 7,195 shares in the company, valued at approximately $100,010.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Namsun Kim acquired 7,195 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $13.90 per share, with a total value of $100,010.50. Following the transaction, the director now directly owns 7,195 shares in the company, valued at $100,010.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Junkoo Kim acquired 18,935 shares of WEBTOON Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $12.74 per share, with a total value of $241,231.90. Following the transaction, the insider now owns 924,005 shares in the company, valued at $11,771,823.70. The disclosure for this purchase can be found here. Insiders bought a total of 56,526 shares of company stock worth $710,459 in the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on WBTN shares. The Goldman Sachs Group lowered their price target on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. 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 on the stock. HSBC started coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price target on the stock. Evercore ISI reduced their price target 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, Morgan Stanley reduced their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.17.
Read Our Latest Stock Report on WEBTOON Entertainment
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.
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