SG Americas Securities LLC Sells 90,742 Shares of WEBTOON Entertainment Inc. $WBTN

SG Americas Securities LLC reduced its position in WEBTOON Entertainment Inc. (NASDAQ:WBTN) by 92.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,148 shares of the company’s stock after selling 90,742 shares during the period. SG Americas Securities LLC’s holdings in WEBTOON Entertainment were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WBTN. CWM LLC grew its holdings in WEBTOON Entertainment by 54.1% during the 3rd quarter. CWM LLC now owns 7,204 shares of the company’s stock worth $140,000 after acquiring an additional 2,530 shares in the last quarter. Bank of America Corp DE lifted its position in shares of WEBTOON Entertainment by 966.9% in the 2nd quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock worth $7,479,000 after purchasing an additional 746,505 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of WEBTOON Entertainment by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 865,698 shares of the company’s stock valued at $7,861,000 after purchasing an additional 36,175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of WEBTOON Entertainment by 8.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,816 shares of the company’s stock valued at $89,000 after purchasing an additional 774 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $376,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WBTN. Zacks Research lowered WEBTOON Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. UBS Group cut WEBTOON Entertainment from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Evercore ISI dropped their price objective on WEBTOON Entertainment from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, WEBTOON Entertainment has an average rating of “Hold” and an average target price of $17.33.

WEBTOON Entertainment Trading Down 4.0%

Shares of WBTN opened at $12.09 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of -11.97 and a beta of 1.92. WEBTOON Entertainment Inc. has a 12 month low of $6.75 and a 12 month high of $22.47. The stock has a fifty day moving average price of $13.30 and a 200-day moving average price of $14.46.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Wednesday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. WEBTOON Entertainment had a negative return on equity of 2.14% and a negative net margin of 9.28%.The company had revenue of $378.04 million for the quarter, compared to analyst estimates of $385.21 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

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.