MYDA Advisors LLC Has $951,000 Stake in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

MYDA Advisors LLC lowered its holdings in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company’s stock after selling 42,000 shares during the period. MYDA Advisors LLC’s holdings in WEBTOON Entertainment were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WBTN. State Street Corp acquired a new position in WEBTOON Entertainment in the third quarter worth about $1,560,000. Barclays PLC raised its holdings in shares of WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after buying an additional 488,779 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after buying an additional 306,496 shares during the period. JPMorgan Chase & Co. acquired a new stake in WEBTOON Entertainment in the 3rd quarter valued at $75,000. Finally, SG Americas Securities LLC bought a new stake in WEBTOON Entertainment in the fourth quarter valued at $892,000.

WEBTOON Entertainment Price Performance

Shares of WEBTOON Entertainment stock opened at $8.66 on Friday. The firm has a 50 day simple moving average of $8.85 and a 200 day simple moving average of $11.05. WEBTOON Entertainment Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $25.66. The firm has a market cap of $1.12 billion and a P/E ratio of 18.83.

WEBTOON Entertainment (NASDAQ:WBTN) last released its earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. On average, sell-side analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on WBTN. The Goldman Sachs Group cut their price objective on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their price objective on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on WEBTOON Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.75.

Insider Buying and Selling

In other WEBTOON Entertainment news, insider Junkoo Kim acquired 11,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the acquisition, the insider now directly owns 498,812 shares of the company’s stock, valued at approximately $4,354,628.76. This represents a 2.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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.