WEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report)’s share price rose 10.8% on Wednesday . The company traded as high as $13.57 and last traded at $13.4710. Approximately 330,773 shares traded hands during trading, a decline of 1% from the average daily volume of 335,288 shares. The stock had previously closed at $12.16.
Wall Street Analysts Forecast Growth
WBTN has been the subject of a number of recent analyst reports. HSBC downgraded shares of WEBTOON Entertainment from a “buy” rating to a “hold” rating and set a $11.50 price target for the company. in a report on Wednesday, March 4th. Wall Street Zen downgraded shares of WEBTOON Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Monday, April 20th. Evercore reissued an “outperform” rating and issued a $15.00 price objective on shares of WEBTOON Entertainment in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $10.00 price objective on shares of WEBTOON Entertainment in a research note on Thursday, March 5th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, WEBTOON Entertainment currently has a consensus rating of “Hold” and a consensus price target of $15.07.
Check Out Our Latest Report on WEBTOON Entertainment
WEBTOON Entertainment Stock Performance
Hedge Funds Weigh In On WEBTOON Entertainment
Several institutional investors and hedge funds have recently added to or reduced their stakes in WBTN. Bank of America Corp DE increased its position in WEBTOON Entertainment by 966.9% in the 2nd quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock valued at $7,479,000 after acquiring an additional 746,505 shares during the period. Brandywine Global Investment Management LLC acquired a new position in WEBTOON Entertainment in the 4th quarter valued at approximately $3,903,000. Marshall Wace LLP increased its position in WEBTOON Entertainment by 1,281.8% in the 3rd quarter. Marshall Wace LLP now owns 313,137 shares of the company’s stock valued at $6,078,000 after acquiring an additional 290,476 shares during the period. Millennium Management LLC increased its position in WEBTOON Entertainment by 329.0% in the 4th quarter. Millennium Management LLC now owns 191,048 shares of the company’s stock valued at $2,489,000 after acquiring an additional 146,514 shares during the period. Finally, Norges Bank acquired a new position in WEBTOON Entertainment in the 2nd quarter valued at approximately $1,271,000.
About WEBTOON Entertainment
Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.
Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.
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