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| (사진=JYP Ent. 홈페이지) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Amid the dispute over SM Entertainment's management rights, foreign investors are intensively buying JYP Entertainment, drawing keen attention to the background.
According to the Korea Exchange on the 7th, JYP closed at 77,900 won, up 1.56% from the previous trading day. This year, JYP shares rose 14.9% from the end of last year.
The rise in JYP shares is attributable to net foreign buying. According to the Korea Exchange, foreigners bought a net 91.2 billion won worth of JYP over the past month on the 6th. During this period, all foreigners continued their net purchases except for two trading days. During the same period, foreigners net bought HYBE and SM worth 34.4 billion won and 21.8 billion won, respectively, while YG Entertainment sold a net 6.7 billion won. The share of foreign holdings in JYP, which was 31.18% at the beginning of the year, jumped to 40.66%.
JYP posted a record high in the fourth quarter of last year. Securities industry watchers say the outlook for this year's performance is not bad. JYP is set to announce its performance in the fourth quarter of last year.
According to financial information provider FnGuide, sales are expected to increase by 73.98% year-on-year to 111 billion won, and operating profit is expected to increase by 93.87% over the same period to 31.6 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
