ValuEngine Downgrades Line (LN) to Hold

ValuEngine cut shares of Line (NYSE:LN) from a buy rating to a hold rating in a research note published on Wednesday morning.

Several other brokerages have also recently weighed in on LN. Zacks Investment Research upgraded shares of Line from a sell rating to a hold rating in a research note on Tuesday, September 4th. UBS Group upgraded shares of Line from a neutral rating to a buy rating in a research note on Wednesday, July 18th. CLSA upgraded shares of Line from an underperform rating to a buy rating in a research note on Wednesday, June 27th. Finally, Jefferies Financial Group upgraded shares of Line from an underperform rating to a hold rating in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Line presently has an average rating of Hold and a consensus target price of $47.00.

Shares of NYSE:LN traded down $2.69 during trading on Wednesday, hitting $29.99. The company’s stock had a trading volume of 191,918 shares, compared to its average volume of 88,887. Line has a 12 month low of $29.33 and a 12 month high of $47.81. The company has a current ratio of 2.91, a quick ratio of 1.64 and a debt-to-equity ratio of 0.67.



A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hillhouse Capital Management Ltd. raised its stake in Line by 14.5% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 1,207,763 shares of the technology company’s stock worth $49,603,000 after acquiring an additional 152,900 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in Line by 3.6% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 367,390 shares of the technology company’s stock worth $15,088,000 after acquiring an additional 12,823 shares during the period. Jane Street Group LLC raised its stake in Line by 484.3% during the 2nd quarter. Jane Street Group LLC now owns 110,163 shares of the technology company’s stock worth $4,524,000 after acquiring an additional 91,309 shares during the period. Aperio Group LLC raised its stake in Line by 11.4% during the 3rd quarter. Aperio Group LLC now owns 99,619 shares of the technology company’s stock worth $4,197,000 after acquiring an additional 10,195 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in Line by 32.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 85,486 shares of the technology company’s stock worth $3,511,000 after acquiring an additional 21,152 shares during the period. Institutional investors own 3.07% of the company’s stock.

About Line

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Line (NYSE:LN)

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