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Jinyoung Park (photo = JYP entertainment) |
[Alpha Biz= Reporter Paul Lee] On the 13th, JYP Entertainment announced lower-than-expected results for the first quarter, causing its stock price to hit a 52-week low.
The company concluded trading at 61,000 won, down 13.28% from the previous session.
The stock price dropped to 60,000 won during the trading session, marking a new 52-week low.
Following the previous trading day's close on the 10th, JYP Entertainment disclosed its first-quarter results, reporting sales of 1.365 trillion won and an operating profit of 336 billion won for the quarter.
On the same day, Hana Securities lowered its target price for JYP Entertainment from 110,000 won to 100,000 won, citing the company's disappointing first-quarter performance and limited momentum in the second quarter.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
