Stoneridge Investment Partners LLC Purchases New Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Stoneridge Investment Partners LLC acquired a new position in WEBTOON Entertainment Inc. (NASDAQ:WBTN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,502 shares of the company’s stock, valued at approximately $306,000.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in WEBTOON Entertainment in the third quarter valued at $45,000. JPMorgan Chase & Co. purchased a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth about $75,000. MetLife Investment Management LLC bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at about $107,000. Verition Fund Management LLC purchased a new position in shares of WEBTOON Entertainment during the third quarter valued at about $261,000. Finally, SG Americas Securities LLC bought a new position in WEBTOON Entertainment in the fourth quarter worth about $892,000.

WEBTOON Entertainment Stock Down 19.3 %

WBTN stock opened at $10.89 on Friday. The business has a 50 day moving average of $13.10 and a 200 day moving average of $12.98. WEBTOON Entertainment Inc. has a twelve month low of $10.05 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.70. The company had revenue of $347.92 million for the quarter, compared to the consensus estimate of $336.43 million. As a group, sell-side analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on WBTN shares. Morgan Stanley cut their price objective on 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. Deutsche Bank Aktiengesellschaft dropped their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their price objective on WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

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.