Line Target of Unusually High Options Trading (LN)

Line Corp (NYSE:LN) was the target of some unusual options trading on Monday. Stock investors purchased 2,095 put options on the stock. This is an increase of approximately 1,576% compared to the average daily volume of 125 put options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Line in the 2nd quarter worth about $197,000. Jane Street Group LLC acquired a new position in Line in the 3rd quarter worth about $828,000. Tremblant Capital Group raised its holdings in Line by 18.7% in the 3rd quarter. Tremblant Capital Group now owns 2,594,156 shares of the technology company’s stock worth $93,908,000 after purchasing an additional 409,057 shares during the period. FNY Partners Fund LP acquired a new position in Line in the 4th quarter worth about $553,000. Finally, Goldman Sachs Group Inc. raised its holdings in Line by 8.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock worth $11,373,000 after purchasing an additional 25,830 shares during the period. 3.60% of the stock is owned by institutional investors.

LN has been the subject of several analyst reports. BNP Paribas cut Line from a “hold” rating to a “reduce” rating in a report on Friday, October 27th. Zacks Investment Research cut Line from a “buy” rating to a “sell” rating in a report on Wednesday, October 11th. Mizuho cut Line from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 31st. CLSA raised Line from a “sell” rating to an “underperform” rating in a report on Thursday, January 11th. Finally, Deutsche Bank raised Line from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Line currently has an average rating of “Hold” and a consensus target price of $47.00.

Line (LN) opened at $41.18 on Thursday. Line has a fifty-two week low of $30.90 and a fifty-two week high of $47.81.

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About Line

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.

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