Jefferies Group cut shares of Line Corp (NYSE:LN) from a buy rating to a hold rating in a research report released on Thursday morning.
LN has been the subject of a number of other research reports. JPMorgan Chase & Co. initiated coverage on Line Corp in a research report on Wednesday, August 24th. They set a neutral rating for the company. Morgan Stanley initiated coverage on Line Corp in a research report on Monday, August 8th. They set an overweight rating for the company. Finally, Deutsche Bank AG cut Line Corp from a buy rating to a hold rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Line Corp has a consensus rating of Hold.
Line Corp (NYSE:LN) traded down 3.06% during mid-day trading on Thursday, hitting $40.55. 636,738 shares of the stock were exchanged. Line Corp has a 52 week low of $36.01 and a 52 week high of $51.48. The company has a 50 day moving average price of $45.56 and a 200 day moving average price of $43.38. The stock has a market cap of $5.20 billion and a price-to-earnings ratio of 2703.33.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new position in shares of Line Corp during the third quarter worth approximately $1,432,000. CIBC Asset Management Inc acquired a new position in shares of Line Corp during the third quarter worth approximately $4,200,000. FNY Managed Accounts LLC acquired a new position in shares of Line Corp during the third quarter worth approximately $339,000. First New York Securities LLC NY acquired a new position in shares of Line Corp during the third quarter worth approximately $1,258,000. Finally, First American Bank acquired a new position in shares of Line Corp during the third quarter worth approximately $291,000.
Line Corp Company Profile
LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.