SG Americas Securities LLC Buys New Shares in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

SG Americas Securities LLC purchased a new position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 65,659 shares of the company’s stock, valued at approximately $892,000. SG Americas Securities LLC owned 0.05% of WEBTOON Entertainment at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter valued at $1,344,000. State Street Corp bought a new position in WEBTOON Entertainment in the third quarter worth approximately $1,560,000. Barclays PLC grew its stake in 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 period. Geode Capital Management LLC increased its holdings in shares of WEBTOON Entertainment by 290.1% during the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after acquiring an additional 306,496 shares in the last quarter. Finally, FMR LLC raised its holdings in WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after buying an additional 1,905,231 shares during the last quarter.

WEBTOON Entertainment Price Performance

WEBTOON Entertainment stock opened at $13.07 on Wednesday. The firm has a 50 day moving average price of $12.91 and a 200-day moving average price of $13.38. WEBTOON Entertainment Inc. has a twelve month low of $10.05 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last released its earnings results on Thursday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.70. The firm had revenue of $347.92 million during the quarter, compared to analysts’ expectations of $336.43 million. On average, research analysts predict that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WBTN shares. The Goldman Sachs Group lowered their target price on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and an average target price of $21.67.

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.