[Featured Stock] JYP Entertainment Rises Over 4% on Institutional 'Buy'

JYP Ent. is rising more than 4% again on the afternoon of the 2nd.

At 1:33 PM that day, JYP Entertainment was trading at 79,800 KRW, up 4.45% (3,400 KRW) from the previous day. JYP started the day at 77,000 KRW but expanded its gains, reaching as high as 81,000 KRW during the session.

Institutional buying is driving the stock price. In the afternoon, institutions alone have net purchased 4.363 billion KRW. Foreign investors had been selling throughout the morning but switched to net buying of 1.437 billion KRW in the afternoon.

Recently, securities firms have been raising their target prices on expectations of earnings growth for JYP Entertainment. On the 29th of last month, Yuanta Securities raised its target price by 21% from the previous suggestion to 85,000 KRW.