Line (NYSE:LN) was downgraded by research analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, The Fly reports.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered Line from a “hold” rating to a “sell” rating in a research note on Wednesday. CLSA upgraded Line from a “sell” rating to an “underperform” rating in a research note on Thursday, January 11th. UBS Group upgraded Line from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine upgraded Line from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, BNP Paribas lowered Line from a “hold” rating to a “reduce” rating in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Line presently has a consensus rating of “Hold” and an average price target of $47.00.
Shares of Line (NYSE LN) traded down $0.58 during mid-day trading on Wednesday, reaching $44.98. The company had a trading volume of 182,985 shares, compared to its average volume of 186,400. Line has a one year low of $30.90 and a one year high of $47.81.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tremblant Capital Group lifted its holdings in Line by 18.7% in the third quarter. Tremblant Capital Group now owns 2,594,156 shares of the technology company’s stock valued at $93,908,000 after acquiring an additional 409,057 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Line by 1.5% in the third quarter. Macquarie Group Ltd. now owns 797,176 shares of the technology company’s stock valued at $28,858,000 after acquiring an additional 11,634 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Line by 8.6% in the second quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock valued at $11,373,000 after purchasing an additional 25,830 shares during the period. Parametric Portfolio Associates LLC raised its position in Line by 20.5% in the second quarter. Parametric Portfolio Associates LLC now owns 62,708 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 10,662 shares during the period. Finally, Aperio Group LLC raised its position in Line by 24.9% in the third quarter. Aperio Group LLC now owns 51,461 shares of the technology company’s stock valued at $1,863,000 after purchasing an additional 10,245 shares during the period. Hedge funds and other institutional investors own 3.59% of the company’s stock.
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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.
