Line (NYSE:LN) Hits New 12-Month High at $40.86

Line Corp (NYSE:LN) shares reached a new 52-week high during trading on Thursday . The company traded as high as $40.86 and last traded at $40.81, with a volume of 1108 shares. The stock had previously closed at $38.13.

LN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Line from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Credit Suisse Group upgraded Line from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 11th. Finally, ValuEngine downgraded Line from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $3,500.00.

The stock has a 50-day simple moving average of $37.07 and a 200 day simple moving average of $33.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.98 and a quick ratio of 1.94. The company has a market capitalization of $9.22 billion, a PE ratio of -248.94 and a beta of 1.10.

Several large investors have recently modified their holdings of LN. Matthews International Capital Management LLC lifted its position in shares of Line by 31.6% in the second quarter. Matthews International Capital Management LLC now owns 2,518,200 shares of the technology company’s stock valued at $70,862,000 after acquiring an additional 605,100 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Line by 196.9% in the second quarter. Renaissance Technologies LLC now owns 174,300 shares of the technology company’s stock valued at $4,905,000 after acquiring an additional 115,600 shares in the last quarter. Henry James International Management Inc. lifted its position in shares of Line by 30.4% in the third quarter. Henry James International Management Inc. now owns 140,300 shares of the technology company’s stock valued at $5,042,000 after acquiring an additional 32,681 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Line by 314.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 29,773 shares of the technology company’s stock valued at $838,000 after acquiring an additional 22,583 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Line by 129.0% in the second quarter. ARK Investment Management LLC now owns 16,412 shares of the technology company’s stock valued at $462,000 after acquiring an additional 9,246 shares in the last quarter. Institutional investors and hedge funds own 3.44% of the company’s stock.

Line Company Profile (NYSE:LN)

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables 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.

Further Reading: Market Perform

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